Beneficial owner means the natural person who ultimately owns, controls, or benefits from a legal entity or arrangement, even when ownership is held through nominees or other entities. Identifying beneficial owners helps AML programs understand who controls a customer and assess sanctions, corruption, fraud, or other financial-crime exposure.
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Glossary term
What is Beneficial owner?
Beneficial owner means the natural person who ultimately owns, controls, or benefits from a legal entity or arrangement, even when ownership is held through nominees or other entities. Identifying beneficial owners helps AML programs understand who controls a customer and assess sanctions, corruption, fraud, or other financial-crime exposure.