UBO (Ultimate Beneficial Owner)
An Ultimate Beneficial Owner is the natural person who ultimately owns or controls a company, typically defined as holding more than 25% of shares or voting rights, or otherwise exercising control. Identifying every UBO behind layered holding structures is a core part of KYB.
Opaque or layered ownership is one of the fastest routes to a decline, because a bank that cannot identify every UBO to the 25% threshold will not take the risk. Mapping your full ownership chain before you apply prevents a back-and-forth that commonly adds 3-6 weeks to onboarding.
Know Your Business is the due-diligence process banks, EMIs, and acquirers run to verify a corporate applicant: beneficial ownership, incorporation documents, source of funds, and the nature of the business itself.
A Politically Exposed Person is an individual entrusted with a prominent public function, along with their close associates and family, who therefore carries a higher risk of bribery or corruption.
Source of funds is the documented origin of the specific money moving through an account: where a given deposit or the working capital actually came from.
Enhanced Due Diligence is the deeper set of checks a firm applies to higher-risk customers: politically exposed persons, high-value clients, or those in high-risk jurisdictions.