Identification of Beneficial Owners (UBO)
Identify beneficial owners quickly and with legal certainty. Regpit automates beneficial owners determination with access to over 300 registers in 100 countries: For transparent and efficient compliance processes.
Why is the identification of the beneficial owners so important?
Identifying beneficial owners is a core component of effective AML and KYC compliance.
The German Money Laundering Act (GwG) obliges companies to identify the persons who ultimately exercise ownership or control over a contractual partner.
In practice, this is crucial to prevent money laundering or terrorist financing.
Incorrect or incomplete information can lead to severe fines, liability risks and reputational damage.
Who is considered "beneficial owner"?
A beneficial owner is any natural person who directly or indirectly holds more than 25% of the shares or voting rights of a company, or otherwise exercises control over it.
In many cases, complex ownership structures, foreign registers, or intermediary entities make identifying the beneficial owner a challenge: Especially without technical support.
The challenge in the determination of beneficial owners
The identification of beneficial owners is complex, internationally ramified and legally demanding. Different registers, languages and structures make manual checks inefficient and prone to error.
Typical challenges:
- Complex ownership structures: International participation chains with several levels
- Inconsistent register landscape: Each country uses its own formats, data sources and languages
- Lack of transparency: In some countries, registers are incomplete or difficult to access
- High manual effort: Searches take a long time and are almost impossible to document in an audit-proof manner
Instead of tedious list checking: Intelligent automation that doesn't overlook anything.
The solution: Determination of beneficial owners with Regpit
Regpit digitalizes and automates the entire identification of beneficial owners from data retrieval to audit-proof documentation.
Your advantages with Regpit:
- Automated register queries: access to over 300 commercial and transparency registers in more than 100 countries
- Structure dissolution: Multi-level shareholdings are automatically dissolved up to the natural person
- Legal compliance: Results are checked, documented and securely archived in accordance with the GwG
- Intuitive dashboard: All ownership and control relationships presented clearly, visually and comprehensibly
- Seamless integration: Direct integration into your existing KYC and KYB processes
All functions for money laundering prevention in one platform
Choose flexibly: individual modules or bespoke combinations in one seamless platform.
KYC/KYB Solution
Regpit’s KYC and KYB software enables fully digital onboarding: including automated PEP and sanctions list screening, identification of beneficial owners and the provision of up-to-date register extracts.
All processes are compliant with the German Money Laundering Act, intuitive to use and conclude with an audit-proof report that safeguards you during inspections.
Ident Solution
With Regpit’s Ident Solution, you can identify individuals simply and securely: via video identification, eID, account identification, on-site verification or signature.
All procedures are AML-compliant, ready for immediate use and can be integrated into your processes without any IT effort.
Monitoring Solution
Regpit's Monitoring Solution automatically monitors individuals and companies for sanctions lists, PEP data and adverse media.
Changes are detected immediately, documented and displayed as alerts, so you remain compliant and able to act at all times.
E-Learning Solution
With Regpit’s E-Learning Solution, you can train employees efficiently and in compliance with legal requirements on all topics relating to anti-money laundering.
All content concludes with knowledge tests and leads to audit-proof participation certificates.
Whistleblowing Solution
With Regpit’s whistleblowing system, you meet the requirements of the German Money Laundering Act and the Whistleblower Protection Act.
The reporting centre is immediately operational and protects whistleblowers and companies alike.
Talk to our compliance experts
Our experts will personally guide you through the Regpit platform, show you the functions in use and advise you individually on the appropriate modules and possible applications.
free of charge & non-binding
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