March 30, 2022

The Complete Company Verification Checklist

From finding the ultimate business owner (UBO) to business ID verification, get all the company information you need from any business around the world in seconds.
By Lauren Sipple

How do I verify a company?

It’s far easier said than done. Depending on how much verification you require and where the business is located, its size, industry, financial status, company verification is an arduous task.

If you’re a business that needs to adhere to KYC and KYB compliance, there are various steps you need to go through and pieces of information that you’ll need to verify your customers.

We've compiled a list of all the data you'll need to verify to meet full KYB (Know Your Business) compliance checks. Check your CDD (Customer Due Diligence)/KYC (Know Your Customer) software can deliver all this information, and jump to the bottom of the page to find out how you can unlock all of this via one single API.

The complete company verification checklist to pass KYB compliance checks

Scroll or click the shortcuts below to jump to the right section to make sure you’re gathering all the necessary information for your KYB checks.

  • Company credentials: Core business data including business name, incorporation date and registered address

  • Finance & credit: Detailed finance and credit data such as credit scores, credit limits and turnover
  • Directors: Information about all registered directors of the company
  • Ownership (UBO): Information on anyone with ownership in the company, specifically any individual or company with > 25% ownership
  • ID Verification: ID verification on thousands of different document types to confirm the ID of individuals linked to the company
  • Insights: General checks and insights to assess ongoing risk and compliance

Company Credentials

  • Name
  • Address
  • Country
  • Registration /reference number
  • Incorporation date
  • Registered form
  • Status
  • Filed accounts date
  • VAT Number
  • Industry codes
  • Industry descriptions
  • Previous names
  • Number of Employees
  • Most recent filing
  • Ultimate controlling company
  • Turnover

Finance & Credit

  • Credit rating
  • Credit limit
  • Current Assets
  • Total assets
  • Capital
  • Long term debt
  • Turnover
  • Gross Profit
  • EBITDA

List of Directors

  • Title
  • Name
  • Type of position
  • Level of responsibility
  • Appointment date
  • Resignation date
  • Shareholder
  • DOB
  • Address
  • Country
  • Is Active

Ownership

List of individuals with ownership:

  • First name
  • Last name
  • Job Title
  • Date of birth
  • Home address
  • Country
  • Address
  • City
  • ZIP / Postcode
  • This person owns 25% or more of the company
  • This person is a member of the governing board of the company
  • This person is an executive or senior manager with significant management responsibility

List of other companies with ownership

  • Registered company name
  • Company Reference number
  • Registered address
  • Country
  • Address
  • City
  • This company owns 25% or more of the company

PEP & Sanction Checks

Performed for all individuals with ownership

  • Politically Exposed Persons (PEP) screening result
  • Sanctions screening result

Advanced PEP & Sanction screening will screen the following:

  • World compliance PEP list
  • Current & previous sanctions
  • Global watch list
  • AML high-risk countries screening
  • Insolvencies
  • Financial regulator check
  • Law enforcement screening
  • Disqualified director check
  • Adverse media
  • Negative news screening
  • Bankruptcies check

ID Verification

  • Provided name
  • Name on document
  • Job role
  • ID verification status

Insights

  • Company Age: More than 6 months old
  • Company Last Accounts: Has recently filed accounts
  • Company Legal Form: Registered as a valid legal form
  • Company Status: Status is active
  • Company Credit Rating: Credit rating is good

Need to get all this company information fast? There's an API for that.

Finding companies around the world is the hardest part of KYB. Detected’s single search algorithm uses very little data to find the best match across our network of data providers. Using machine learning, the Detected platform learns the best data source using a confidence score and feedback loop.

From there, onboarding customers is a seamless experience powered by OCR technology and biometric face matching. Once you have your customers' business profile and UBOs identified, unique UBO portal links are connected to your customer profiles in your CRM via API, enabling you to be compliant with anti-money laundering regulations.

Once your customers have completed our Identity Verification and UBO flows, Detected automatically runs PEP and Sanctions checks on your behalf.

Compliance doesn’t end at onboarding. To monitor risk within your customer base, Detected flags changes in risk status so you can know instantly if a business you’re trading with becomes high risk, is in financial trouble or appears on a PEP or Sanctions list.

Detected is your best chance at finding a company anywhere on earth and then completing thorough ID verification, UBO and PEP & Sanction checks on involved individuals - all in a matter of seconds. Just plug the Detected API into your current workflow and you’re ready to go.

Subscribe to Detected's KYB Newsletter

Get our KYB articles and resources direct to your inbox, once a month.

Keep reading