Entity Due Diligence
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This guide has been broken down into the following four tasks.
If you wish to look-up an entity, you can do so by selecting 'New Entity' from the main menu.
A search can be conduced with either the Registered Entity Name (or what you believe this to be) or by the Registered Number (exact.)
When you are ready to begin your search, select the button 'Continue'.
Results that match your search criteria will be returned. The results will contain matches for any publicity registered Entities, Trusts and Companies.
To take a closer look at a result, click 'select' beneath the result you wish to view.
Each result is rich with information and includes a basic overview, registered address, directors/officers and filing history.
Within each tab you will find links to external pages. Such as the 'Source' which will redirect you to the page in which the entity is registered (e.g Companies House.) You may also click a director or filing to view a page diving deeper into the result including the original documentation if applicable.
Please note that depending upon the country of jurisdiction or type of entity, the information density and breadth of results may vary.
The process of creating an entity report is similar to that of looking up an entity.
As per the previous section of this guide, select 'New Entity' from the dashboard menu.
Creating an entity report starts with entering the name and or number for the entity.
If you have any documentation you would like to add to this report, you can do so here by selecting 'Choose files' and then selecting 'Continue' when ready.
Results that match your search criteria will be returned. You can select a result for the basis of your report, or if you do not see the entity listed, select 'The Company Isn't Listed' to continue.
If you are happy with the information for the result you have selected. Scroll down to the bottom of the screen and select 'Start Due Diligence.'
A new report for this entity will be created, containing all of the public information within the match you selected.
Any documents you added during creation will also be attached to this report and stored safely.
If you wish to add a comment to this report prior to continuing, you will see a Notes module at the bottom of the report.
Actions for each report will also allow for the following:
- Edit: Upload or remove documents
- Delete: Remove this report from your account
- Flag: Mark this Report as Flagged
- Approve: Mark the Report as Approved
Receiving information for numerous individuals (for example beneficial owners) and information about an entity all at the same time can be tricky.
From within the dashboard menu we have an option 'Send Entity Request.' Just like the request for client information, or taking receipt of an ID document, this form can be used to capture everything you need for due diligence on an entity.
Let's explore the steps involved.
You can view the form by clicking the long URL displayed in the box, or if you wish, copy and paste this into an email to send direct to your client.
The unique link to this form can be shared with any client multiple times.
When viewing the form you will see your brand displayed and the recipient will firstly be asked to enter basic information about the entity they are acting (or buying) on behalf of.
As we are trying to identify who the Ultimate Beneficial Owner (or owners) are, the next step is to upload the information for an individual whom has a significant portion of control for the entity.
The recipient can select 'Add Person' and continue to enter additional information for another UBO if they wish, before selecting 'Add Person' once again.
When ready to submit the viewer will see that information for two individuals has been uploaded to the form and is now ready to submit.
When the information is submitted, you will be notified by email that you have a new Entity to review. This will be displayed within the dashboard in the Entities section, under the tab 'Received.'
Clicking Review will present a series of matches for the entity name of number given. Selecting a result will show public available information for the result.
Scrolling down will reveal the persons with significant control that submitted their information with this entity.
Any attached documents or certificates will also be displayed here (if images) and links to view PDF's if present.
When you are ready to create the report for this entity, select 'Start Due Diligence.'
Once we have created a report we will notice that the ArcartaPay Intelligence module is telling us that we have persons linked to this report.
As these individuals are new to us, we need to create a report for each of the linked persons.
Scrolling down within the report we will find the two individuals that submitted their information to us.
Select 'Create Report' to begin conducting Due Diligence on the individual.
Because we have received the information as part of the form, the clients information is pre-filled and identification documents are also attached ready to view.
When ready to proceed, select 'Start Due Diligence' to create a report for this individual.
The report for this individual is automatically 'linked' to the entity we created and expressed in the body of the report.
The entity report and any of the individuals with significant control are linked and each can be reviewed and approved in isolation.
When you are ready to continue, you can add a comment, add more information or approve/flag the report.
For instances when due diligence on an entity and individual(s) were conducted separately, yet you wish you tie the two reports together, you may do so by linking an individual to an entity.
Using the "New Entity" feature, you can create a report for a company and attach all relevant documents and information.
The issue however is that this report contains no information for the directors or persons with significant controls.
If you have a report for an individual you would like to link to this company (or entity), select the 'Actions' button on the report.
Select the option 'Linked Entities' from the Actions menu.
All entities that have reports on your account will be shown here. When you have found the entity in which you would like to link the report to, select 'LINK'.
It is worthing noting that an individual can be linked to multiple entities.
The individual will be automatically linked and you will be redirected to the entity report which will now reflect this change.
In instances where the linked person has matches on any watchlists (such as a PEP) this will also be indicated.
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