CDD On Demand

The European Union has announced restrictive measures in response to the crisis in Ukraine. Our partner Acuris Risk Intelligence has issued new statements regarding the current sanctions environment against Russia. This statement means that Acuris Risk Intelligence will make every effort to incorporate any changes into the database within 24 hours. Since the link between SCOPE CDD On Demand and Acuris Risk Intelligence is real-time, this means that the results are also visible in the compliance check within 24 hours. Sanction lists list individuals and entities that are subject to financial restrictions to prohibit counterterrorism regimes and money laundering around the world. When doing business, you naturally want to be sure you are building relationships with the right people. Therefore, it is important to properly screen the business partner before entering into a business relationship. With CDD On Demand Solution you can monitor your customers on a daily basis. If during the daily monitoring a possible match is found for one of the persons or companies on the monitoring list, you will receive a notification. If you receive a notification, you can take immediate action. The monitor function on CDD On Demand is valid for one year. As a user, you have the option of extending this automatically.  Together with our partners, we provide an up-to-date software platform that you can rely on.

The UBO check (only available for Dutch companies)

Find the UBO (Ultimate Beneficial Owner) or potential UBO within minutes with the SCOPE CDD On Demand solution.

Within one minute you will receive a report that provides insight into the company structure, and an indication of the UBO or a prediction of the possible UBO. 

How can SCOPE CDD On Demand help you find the UBO?

There are two ways to find out the UBO in CDD On Demand. You can find the UBO by searching the UBO register of the Chamber of Commerce, or by using CDD On Demand's own UBO research.
 

The UBO register

SCOPE CDD On Demand performs a UBO investigation based on the UBO register of the Chamber of Commerce. You search for a business entity using our SCOPE CDD software and, if available, you will receive the UBOs registered with the Chamber of Commerce in the UBO register.

The UBO investigation

The SCOPE CDD UBO check performs a UBO search based on the registrations of companies in the trade register. Based on the Chamber of Commerce number or the company name, the Chamber of Commerce database is being searched to find out the UBO.

Search in the UBO-register of the Chamber of Commerce

The SCOPE CDD UBO Register Check performs a UBO search based on the information registered in the UBO Register of the Chamber of Commerce. You search on a business entity using our SCOPE CDD software and you will get, if available, the registered UBOs in the UBO Register. This option works well for both new and older business entities as both are required to register the UBOs. 

Search in the UBO-register of the Chamber of Commerce

The SCOPE CDD UBO Register Check performs a UBO search based on the information registered in the UBO Register of the Chamber of Commerce. You search on a business entity using our SCOPE CDD software and you will get, if available, the registered UBOs in the UBO Register. This option works well for both new and older business entities as both are required to register the UBOs. 

The SCOPE CDD UBO research

CDD On Demand offers an online platform in which the CoC registrations of your client can be retrieved. You enter a company name with a place of business or the Chamber of Commerce number, and CDD On Demand then takes most of the work off your hands. Within one minute you will get an overview of the company structure, in this the CDD On Demand solution indicates:

  • which person(s) is/are the UBO(s), or;
  • which person(s) can be the potential UBO(s), or;
  • Which person(s) can lead you to the UBO(s).

When you are in a meeting with a client, you can immediately verify the company structure with the help of CDD On Demand.

You enter a company name and/or place of business or Chamber of Commerce number.

The CDD On Demand solution obtains the company structures and contacts.

You will receive a (possible) UBO and company structure, which you can verify with your client.

Example of a UBO report of the CDD On Demand solution. The names and companies are fictional.

The SCOPE CDD UBO research

CDD On Demand offers an online platform in which the CoC registrations of your client can be retrieved. You enter a company name with a place of business or the Chamber of Commerce number, and CDD On Demand then takes most of the work off your hands. Within one minute you will get an overview of the company structure, in this the CDD On Demand solution indicates:

  • which person(s) is/are the UBO(s), or;
  • which person(s) can be the potential UBO(s), or;
  • Which person(s) can lead you to the UBO(s).

When you are in a meeting with a client, you can immediately verify the company structure with the help of CDD On Demand.

You enter a company name and/or place of business or Chamber of Commerce number.

The CDD On Demand solution obtains the company structures and contacts.

You will receive a (possible) UBO and company structure, which you can verify with your client.

Example of a UBO report of the CDD On Demand solution. The names and companies are fictional.

The Ultimate Beneficial Owner (UBO)

UBO stands for “Ultimate Beneficial Owner” and Dutch. An institution subject to the AMLD is obliged to find out the identity of the UBO. The reason that a UBO must be established is to prevent - unknowingly - doing business with natural persons who have malicious intentions (such as money laundering) and who want to hide behind a legal person.

There are several criteria on which a person is classified as a UBO. These criteria involve holding ultimate ownership or control in a legal entity through the holding of shares, voting rights, ownership interests or other means.

Once you have identified an UBO, it is important to screen them. You must perform a compliance check to find out whether the UBO poses a higher risk of money laundering or financing of terrorism.

When is someone considered to be an UBO?

According to the Tax Authorities, a UBO is a natural person who:

  • has an interest of more than 25% in the capital of the legal entity;
  • can exercise more than 25% of the voting rights in the general meeting;
  • is the beneficiary of more than 25% of the assets of the legal entity.

Sources for the UBO investigation

Using a UBO check from CDD On Demand, an attempt is made to find out who the UBO behind a company is. The check automatically requests extracts from the Chamber of Commerce. These extracts are analyzed and the persons and organizations involved are identified. Once the structure is clear, an attempt is made to establish which person (or persons) is (are) the UBO(s).

The outcome of the study is natural persons and related organizations.

This service is only available for Dutch companies. If the search leads to a company outside the Netherlands, an attempt is made to indicate a so-called ‘UBO connection’. This is the person most likely to know who the UBO is.

When is someone considered to be an UBO?

According to the Tax Authorities, a UBO is a natural person who:

  • has an interest of more than 25% in the capital of the legal entity;
  • can exercise more than 25% of the voting rights in the general meeting;
  • is the beneficiary of more than 25% of the assets of the legal entity.

Sources for the UBO investigation

Using a UBO check from CDD On Demand, an attempt is made to find out who the UBO behind a company is. The check automatically requests extracts from the Chamber of Commerce. These extracts are analyzed and the persons and organizations involved are identified. Once the structure is clear, an attempt is made to establish which person (or persons) is (are) the UBO(s).

The outcome of the study is natural persons and related organizations.

This service is only available for Dutch companies. If the search leads to a company outside the Netherlands, an attempt is made to indicate a so-called ‘UBO connection’. This is the person most likely to know who the UBO is.