Beneficial Ownership Compliance

Who’s investing or buying?

Regulators are asking questions.

We’re answering them.

In recent years, US regulators and law enforcement authorities have been pressing for closer scrutiny of real estate transactions. This surprises no one, given that the US real estate market remains a major draw for foreign investors, with no sign that the buying spree will slow down anytime soon. To complicate matters, more and more properties are purchased via shell companies, offshore firms, or trusts. Such transactions not only help to conceal beneficial ownership, but also may be used to launder stolen funds and implant millions of illicit dollars into the legitimate market.

Concern about these trends grew in the wake of the Panama Papers’ revelations in 2016 that the US property market may be particularly vulnerable to money launderers and drug trafficking organizations. In 2017, the U.S. Treasury Department closed a loophole in its geographic targeting order (GTO) which aims to crack down on money laundering in real estate, extending its LLC disclosure rules to deals that involve wire transfers. The Financial Crimes Enforcement Network (FinCEN) noted that a full 30 percent of transactions covered by the GTOs involve an owner who’s been the subject of a suspicious activity report.

This is where IntegrityRisk Owner√ provides valuable assistance. Our experienced research team uses its global business knowledge and native-level fluency in multiple languages to efficiently conduct focused, accurate public record checks. We identify details and compile information regarding beneficial ownership and affiliated parties. IntegrityRisk Owner√ can play an important role in helping clients meet regulatory requirements for just about any purpose, including real estate transactions, private wealth matters, and third-party / vendor diligence. 

PRODUCT FEATURES

CORE: Identification & Basic Checks

Identify owners and affiliated parties through public records research*

Companies: Identify owners and/or related companies and principals

Individuals: Identify associated businesses / corporate affiliations

Negative news research

PEP status

Sanctions / watch list presence

*Public records research can include, but is not limited to: corporate registries, regulatory, litigation, media, Internet.  

OPTIONAL: Additional + Reputational Diligence

Social profile

Focused or full public record checks into all identified related companies, corporate affiliates and/or principals

Local source commentary