What is BO | What is UBO | Ultimate Beneficial Owner | Beneficial Owner | Shareholders | AML | KYC | Nominee Shareholders | Bearer Shares
Beneficial ownership is a crucial concept in Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. It refers to the natural person(s) who ultimately own, control, or benefit from a legal entity or financial transaction. Identifying the beneficial owner is essential for preventing money laundering, terrorist financing, and other illicit activities, as it helps authorities understand who is behind the entities involved in financial transactions.
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