The process of obtaining this information can be complex and time consuming, but with the help of Creditinfo it is possible to significantly ease the process so that employees can focus on more demanding tasks. The solutions available at Creditinfo that facilitate the work of customer due diligence will be reviewed here:
Register of Public Limited Companies – Valid registration
According to the guidelines of the steering group on measures against money laundering and terrorist financing, it must always be examined which parties within a company are specifically authorized to act on its behalf. By looking up the register of limited companies at Creditinfo, it is possible to get e.g. an overview of the main members of the company, its purpose, registered capital and who appoints its board.
When conducting due diligence, companies need to find out in detail who the real owners of companies are. It is common for individuals to own companies through other companies. Such relationships can be complex, so it can be difficult to find out exactly who is behind the companies and how much they own. With Final Owners, you can find detailed information about the individuals who actually own companies and how large their share is. The report also contains information from the register of limited companies. Now there is also information about the real owners according to RSK in the report on Final Owners. The information can be viewed in the light of the entire chain of ownership information obtained from the Report on Final Business Owners.
Creditinfo offers a variety of solutions for analyzing companies’ ownership and relationships. Here is an overview of the reports that are available on the ownership and connections of companies at Creditinfo and for what purpose it is best to use them.
It is not sufficient to examine customer information only when a business relationship begins, but it is important to maintain regular monitoring of customers and their relationships. With the company watch Creditinfo it is possible to monitor changes that take place in information about specific companies, e.g. submission of new annual accounts, changes in the company’s board of directors or changes in ownership. Such information is necessary to keep a close eye on your customers. The company watch is a free part of the subscription to Creditinfo’s systems. New – It is now possible to monitor changes in the final owners who own more than 25% of the company in question.
Individuals with Political Relationships (PEP) – Coming Soon!
Creditinfo has begun preparing a database that will include information on Politically Exposed Persons (PEPs) to assist companies in meeting anti-money laundering requirements. In processing the information, Creditinfo consults with the Data Protection Authority in accordance with the provisions of the Data Protection Act. Individuals who will be registered in the database will have good access to the information and will be notified of its processing.
With access to the largest collection of business information in Iceland, you make more purposeful business decisions. Find out about the subscription options available at Creditinfo. Visit www.creditinfo.is for more information on our solutions and services.
Source: Creditinfo Chronicle