UBO discovery Updates (more to come) 

We are happy to announce that we have been working lately on a couple of changes for our UBO discovery product. See below a glimpse of them and make sure to have always at hand the latest documentation, which contains all the integrated changes, once they have been released.

Released in October

  • Retrieval of the UBO discovery Report – the url link was restricted only to the user_key which was used to trigger the order, in order to prevent not-allowed access to the UBO discovery Report that is provided as part of the json order;
  • Error Types Updates – created in order to prevent unexpected parameter values from being used and to provide appropriate message in case they are;
  • Strategy Parameter: the expected values are “FULL” or “LEVELS”, otherwise following error message will be returned: “Invalid strategy set, expected: FULL or LEVELS”;
  • Levels Parameter: the expected values are two integers, or a pair of two integers separated with a comma, with operators preceding integers allowed ““<”, “>”, “<=”, “>=”, “=”, “==”. Examples: = 1. 20 2. 20,50 3. >20 4. >=20, >=15; 
  • Threshold Parameter: the expected values are two integers, otherwise following error message with be returned: “Invalid thresholds set, expected: 2 digits”; 
  • Credits Parameter: the expected values are integers, otherwise following error message with be returned: “Invalid credits set: expected: digits”;
  • Thresholds – integration of a new parameter – threshold, to allow, based on the client decision, which of the discovered Ultimate Beneficial Owners should be marked as such (with attribute type UBO), in the returned UBO discovery json response, as well as in the UBO discovery Report. The expected parameter values are two integers (whole numbers). Example: by setting this parameter to 30, the UBO discovery endpoint will consider only those discovered UBOs with ultimate ownership equal or bigger than 30 as real Ultimate Beneficial Owners.

For kompany.com users, the following changes have taken place: 

  • UBO discovery Report webpage – new design to improve the user experience and navigation and to allow a better overview of the previously ran UBO discovery orders. The discovery reports can now be filtered based on their status; also, the results of the filtering include the manual discovery orders;
  • UBO discovery webpage – the Ultimate Beneficial Owners are integrated in the Display Options link as a stand-alone option and at the same time they are represented on the UBO tree with a new green arrow. The arrow leads from the main company via indirect shareholders to the Ultimate Beneficial Owners, highlighting the ultimate ownership. Using the UBO mode in the Display Options, you can decide whom do you consider as Ultimate Beneficial Owners.

Coming soon

  • UBO discovery JSON data attribute – extension of the data attribute in order to provide even more information for some of the jurisdictions we cover;
  • Dead-end hierarchy – a multivariate hierarchy of the UBO discovery dead-ends will be introduced for the cases where more than one dead-end on the discovered shareholders occurs. In this case, UBO discovery provides the dead-end reason of the highest business significance;
  • UBO discovery Report expiration – the report will now have a 90-day validity time;
  • Monitoring in UBO discovery – extension of our Monitoring service as part of the UBO discovery json response;
  • Thresholds in Generate Ownership tree – additional functionality on this filter, which will allow to predefine ultimate ownership criteria to be used, for defining UBOs, in the UBO discovery webpage and in the UBO discovery Report (for kompany.com users only).