What is KYB, and who is a UBO?

KYB, know your business, is KYC for companies. It confirms that a business exists, is registered where it says it is, and is run by the people it names as its directors.

The harder part is ownership. An ultimate beneficial owner, or UBO, is a person who ultimately owns or controls the company, often through other companies in a chain. Many regimes set the ownership threshold at 25%, and some expect you to look lower when the risk is higher.

Once the owners are found, each one is checked like any other individual: their identity verified and their name screened against sanctions, PEP and adverse media sources.