Orbis bureau van dijk database10/6/2023 To the right is a real example from Orbis, also demonstrated in our video on sanctions screening. Orbis can help identify sanctioned-by-extension entities and understand how they relate to one another through chains of ownership. These companies do not appear on any sanctions list-but you could still be fined for trading with them. How do you know if an entity is sanctioned by extension?Īs a result, all companies in the chain are sanctioned by extension. ![]() Orbis can even show indirect links from companies to sanctioned and “sanctioned-by-extension” entities. You can review their corporate group as a whole and check it for adverse news as well as PEPs and sanctions. Its corporate trees reveal the ownership of your potential and existing business partners and third-party associates, including the beneficial owners. Orbis is the resource for corporate ownership structures and beneficial ownership information. You can find these and other compliance terms in our A-Z guide of compliance and ownership terms. We have provided some clarity in our poster on ownership structures.Īccording to the Office of Foreign Assets Control’s (OFAC’s) “50% rule”, a company is sanctioned by extension if owned by a sanctioned company or individual through a chain of ownership of 50% or more. But how do you identify companies who are sanctioned because they are remotely linked to sanctioned companies or individuals? Beneficial ownership, which refers to the person or persons who ultimately own or control an asset (such as a property or a company) and benefit from it, can also make understanding a company more difficult. Identifying companies who are sanctioned is one challenge. It’s the world’s most powerful comparable data resource on private companies with extensive corporate ownership structures, beneficial owners, politically exposed persons (PEPs) and sanctions information, making it much easier to really know who you’re doing business with. With information on around 300 million companies in all countries, Bureau van Dijk’s Orbis database plays a key role in know-your-customer (KYC) and know-your-supplier (KYS) due diligence. Sign up for Fintech Connect conference tickets here Use the code FT15 to get 15% off tickets. ![]() Orbis will be speaking at Fintech Connect 2018. Access to the richest, most reliable private company information on the market can help you identify potential regulatory and reputational risks before they can impact your business. When considering new partnerships, onboarding customers and suppliers, or entering a new market, more certainty is always welcome.
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