A KYB check identifies the company and unwraps its structure. It does not verify the people. Once the KYB search returns the directors and shareholders, you still need to run identity checks on the individuals behind the company.
Who to verify
Beneficial owners holding 25% or more of the shares — verify each one.
If no Beneficial owner is identifiable, for example, it is a public company, then you must verify your primary contact who is representing the company.
How to start the identity checks
The KYB result will list all the beneficial owners, select their names and then continue to start the verification process. You can also manually add clients to the company during this process.
This article provides general guidance only and is not legal advice.
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