Know Your Business (KYB) Checks

Cut through the clutter and identify individuals associated with any company with our new Know Your Business Reports

Our Know Your Business Reports provide a clear view of company ownership, connecting companies and entities together to create a true reflection of corporate ownership. This is achieved through a comprehensive diligence process that verifies business identity, legal standing, and risk profile as part of KYB checks.

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Connecting the Corporate Dots with our real-time Know Your Business Reports

Corporate structures can be complex and confusing, especially when companies operate across multiple territories with varying regulations and registries. Traditionally, uncovering Ultimate Beneficial Owners (UBOs) has been a time-consuming task, requiring hours of manual work sifting through endless documents. In contrast, automated KYB processes and automated business verification significantly reduce manual workload, improve accuracy, and speed up the verification of business ownership and compliance checks.

Fraudsters and money launderers exploit these complexities to obscure true ownership. Our KYB checks empower you to cut through the clutter, identify UBOs swiftly, assess risks accurately, and close deals faster.

No matter where your business takes you, we’ve got you covered. Our Know Your Business checks and reports don’t stop where the registry information ends; we dig deeper, connecting companies and entities together to create a true reflection of corporate ownership. Automated solutions help streamline KYB compliance for organizations by efficiently handling large volumes of data and offering customizable workflows.

Reviewing KYB verification documents is a crucial step in ensuring the legitimacy and compliance of legal entities during the KYB process.

Know Your Business AML Reports

Seamlessly connect the checks run on companies to the KYC checks conducted on the individuals associated with those companies. It’s as easy as 1, 2, 3

Enter company name - Select Country - Run Check.

1 - Run a KYB check on any company

Access instant, comprehensive reports on over 400 million private and public companies across 200+ countries and territories.

KYB Group structures detailing the type of business and the people associated with them.

2 - We identify all associated individuals

Easily drill through complex group structures to quickly identify key individuals including directors, shareholders and PSCs.

Director AML checks.

3 - Run KYC/AML checks on those individuals

Run our market leading AML and biometric IDV checks on key individuals in just one click. It's that easy!

Get the facts, not filings

Traditional KYB providers overwhelm you with raw documents and filings. We go beyond that, extracting and presenting the key facts in a clear, concise report. In our reports you will find:

Company Summary
Group Structure
Key Shareholders & UBOs
Previous & Current PSCs
Previous & Current Directors
Up to 5 years of Financial
Charges & Trade Debtors
Associated PEPs screening
Corporate Sanctions screening

Corporate PEPs, Sanctions & Adverse Media Screening

Credas’ Know Your Business reports include comprehensive corporate PEPs, Sanctions, and adverse media screening that plays a pivotal role in helping companies avoid engaging with high-risk businesses that attract international scrutiny.

By providing comprehensive screening services, Credas enables companies to identify potential risks associated with their business partners or clients, such as affiliations with sanctioned entities and individuals on international watchlists, as well as reports of any penalties imposed by regulatory bodies.

Our solution includes Ongoing Monitoring as standard, this proactive approach allows you make informed decisions, ensuring compliance with anti-money laundering regulations and safeguarding your reputation.

These reports help assess a company’s risk profile, identify high risk entities, and detect shell companies. Detecting businesses involved in selling illegal services is also a crucial part of the KYB process. Ongoing compliance and meeting regulatory KYB requirements are supported through accurate business verification. Performing KYB checks can reveal significant credit history and support effective risk management.

Corporate Sanctions

Frequently Asked KYB Questions

WHAT IS KNOW YOUR BUSINESS (KYB)?

Know Your Business (KYB) is an essential process for financial institutions and organisations seeking to establish secure and trustworthy relationships with business entities. At its core, KYB involves verifying the identity, legal status, and legitimacy of companies by collecting and authenticating key information such as registration documents, ownership structure, and details of Ultimate Beneficial Owners (UBOs). This diligence is critical in the fight against money laundering, terrorist financing, and other financial crimes, as it helps uncover the true individuals who ultimately control or benefit from a business. By performing thorough KYB checks, organizations can identify potential risks, ensure compliance with regulatory requirements, and confidently engage with legitimate business partners. Ultimately, a robust know your business KYB process safeguards both the organization and the wider financial ecosystem from illicit activities.

WHY IS KYB IMPORTANT?

Maintaining KYB compliance is crucial for organizations to protect themselves from the dangers of money laundering, terrorist financing, and other financial crimes. Failure to adhere to KYB compliance requirements can expose businesses to significant financial penalties, reputational harm, and even legal consequences. Beyond regulatory obligations, effective KYB procedures foster trust among customers, business partners, and regulators, reinforcing the organization’s commitment to transparency and ethical conduct. By implementing comprehensive KYB procedures, companies not only meet their legal responsibilities but also proactively mitigate potential risks, ensuring that every business relationship is built on a foundation of integrity and due diligence.

HOW OFTEN IS YOUR DATA UPDATED?

Our data is updated daily, including our PEPs and sanctions screening, from over 2,000 trusted sources, such as official sanction lists, registries, and government data.

HOW MUCH DO YOU CHARG FOR YOUR REPORTS?

We’ve eliminated complicated pricing structures by offering a single price for UK and international reports, with discounts available for volume users. Our KYB reports are available on all subscriptions and are included as part of your credit commitment.

DO I NEED TO RUN ID CHECKS ON OWNERS IF THEY APPEAR ON COMPANIES HOUSE?

While companies are legally obliged to provide accurate details to Companies House, the volume of information supplied means that directors/PSC data is not currently verified. In 2022, over 10,000 people applied to have their addresses removed from Companies House, as their details had been used without their consent. New legislation is being introduced that requires all directors to undergo strict ID verification before being listed on Companies House, but it has not yet come into force and may not apply to existing information.

DO YOU PROVIDE CREDIT REPORTS/RATINGS?

We do include financial returns where applicable, but as our services are designed to help firms meet their AML obligations, we do not include credit reports or ratings.

DO I NEED TO RUN A KYB/AML CHECK ON A COMPANY?

Under AML regulations, all regulated firms are required to conduct Customer Due Diligence and establish the Ultimate Beneficial Owners of a transaction, including any commercial entities involved. Failing to correctly establish and conduct thorough due diligence on all parties involved can result in financial penalties, disqualification, and, in rare circumstances, a criminal conviction. The regulation provides for Simplified Due Diligence (SDD) where the risk is considered very low, or in the case of corporate bodies that are already listed on regulated markets, such as Tesco, as these entities are highly scrutinized by their regulators. If you decide to undertake Simplified Due Diligence, it should be documented in your AML policies and captured in your client/matter risk assessment.
KYB checks are especially important for corporate clients in the financial services industry, where verifying business legitimacy and ownership structures is crucial to prevent financial crimes and ensure regulatory compliance.

WHY DO I NEED TO KNOW WHO UBOs ARE?

Identifying Ultimate Beneficial Owners (UBOs) is a key part of the KYB process. This involves not only uncovering the individuals who ultimately own or benefit from a business, but also those with significant control over the company. Identifying persons with significant control is a crucial step in the diligence process, as it helps organizations assess potential risks and comply with anti-money laundering (AML) regulations.

WHAT DOES DUE DILIGENCE AND RISK ASSESSMENT INVOLVE?

Due diligence and risk assessment involve verifying business information, identifying beneficial owners, and assessing financial risk to ensure compliance with AML regulations and to mitigate potential exposure to fraud, money laundering, or other illicit activities.

For quick & simple Know Your Business Reports, get in touch.

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