UBO

A Ultimate Beneficial Owner (UBO) is the individual who ultimately owns or controls a company or entity, even if the ownership is exercised through a chain of legal entities. Identifying the UBO is crucial for transparency in financial transactions, anti-money laundering (AML), and counter-terrorism financing (CTF) efforts. UBO are required to disclose their identities to regulatory authorities to ensure that the true ownership and control of entities are known and to prevent illicit activities. This transparency helps in mitigating risks associated with hidden ownership structures.