In today's business environment, the adoption of compliance measures in companies is not only a requirement, but also a public policy mission. It is becoming increasingly important for companies to implement their own compliance program, not only to protect their own business, but also to comply with established rules, laws, regulations and guidelines.
An adapted accompaniment
At Iberinform, we are sensitive to this issue and we wanted to accompany companies on this path. In a difficult economic context, it is essential for companies to develop their activities in an environment of trust and greater transparency.
Iberinform's AML Compliance and Risk solutions allow companies to act and take the necessary measures to comply with the current legal framework, avoiding sanctions or administrative infractions. Among other benefits, compliance solutions also generate credibility for companies, attracting investors and generating wealth in the value chain. They also reduce their risks, thereby increasing their competitive advantages.
To comply with the new regulations regarding the true owners and stakeholders of your client entity in an efficient and automated way, Iberinform has developed the "On Demand" solution that allows its clients to access the Ultimate Beneficial Owner (UBO) information of the companies they interact with.
Iberinform has developed a platform based on an automation system that makes it possible to determine who the associated persons and companies are, crossing this information with that present in the RCBE (Registo Central de Beneficiário Efetivo - Central Register of Ultimate Beneficiaries) in which the companies are obliged to register.
The results of the search cover the associated natural and legal persons, going down in the structure the necessary levels that meet the conditions to be the ultimate beneficial owner. All persons who control a company, fund or other legal entity are identified.
Beneficial Owner "On Demand", a must have
With the Beneficial Owner "On Demand" solution , the user has all the relevant information to know who he is and what are the business relationships of his business partners, to know the UBO of the companies he does business with and to detect conflicts of interest.
Advantages of this solution:
- Trust and transparency in business partners
- Decreased risk exposure for some companies
- Protecting your brand's good name
- Avoid doing business with sanctioned companies or individuals.
A response adapted to the challenges of compliance
In the same line of development and in order to provide its clients with new solutions for this segment of services, Iberinform, in order to meet the AML obligations in force in Portugal, referred to in the Law on the Prevention of Money Laundering and Terrorist Financing, has partnered with the Portuguese technology company PEPData, which has developed the software that allows the identification of sanctioned entities and individuals, as well as politically exposed persons (PEP's) and their relatives. In addition to reducing bureaucracy and simplifying processes, the solution allows modeling according to the needs of companies in full compliance with the law, as required by the regulators of each sector.
Currently, this solution covers more than 95% of the PEPs in Portugal and Spain, and it is expected that the coverage will be extended to all of Europe by the end of the year.
These initiatives of Iberinform complete its offer of solutions available to customers, providing them not only with new alternatives that help them manage risk and decision-making with sustained information, but also solutions that help them avoid potential sanctions, resulting from the non-compliance with the legal framework in force.
In this way, the fulfillment of its mission of facilitating compliance with the rules to generate greater trust and transparency in companies is maintained.
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