A business credit report provides an intuitive snapshot of a company’s payment behaviour and financial health. Notably, unlike a consumer credit report that is only made available to its owner or to an external party with their consent, a business or corporate credit report can be purchased by anyone (although its primary function remains unchanged). […]
To a consumer? Not so much. To a business however, KYC is imperative to a healthy corporation. KYC in essence is identifying who you are truly working with – this includes your business partners and suppliers, not just your customers (as the name suggests). It is form of preventive measure to verify the ‘Ultimate Beneficial […]
Defined as ‘The natural person(s) who ultimately gains from, owns or controls a legal entity’, Ultimate Beneficial Owner (UBO) is a fundamental component of performing due diligence. Due diligence is the process of taking reasonable care and effort to examine or screen potential partners/customers prior to entering a transaction where it is a branch within […]
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