KYB / Business Verification
Verify the business. Understand who controls it.
The Problem
Verifying a business customer is hard. An ABN lookup tells you a business exists — it does not tell you who actually controls it. Complex ownership structures with multiple layers of companies can hide the true beneficial owner. Shell companies are a primary vehicle for money laundering.
An ABN confirms registration — it does not reveal who is behind the business
Multi-layer ownership structures hide the true beneficial owner
Directors may not be the controlling persons — understanding control is harder than verifying identity
Why It Matters
Businesses are the riskiest customer type for money laundering — not because business owners are criminals, but because legal structures can be used to obscure ownership and legitimise illicit funds. Your AML obligations require you to understand who ultimately benefits from a business relationship.
How Verigo Solves It
Verigo maps the complete ownership structure of every business customer — directors, shareholders, and ultimate beneficial owners. Company data is verified directly against ASIC. Ownership chains are traced until the natural persons in control are identified and verified.
How It Works
Business details submitted
ABN / ACN entered. VeriGo looks up ASIC records in real time.
Company verified
Registered name, status, and registered address confirmed.
Directors identified
All current directors listed and queued for individual KYC.
Ownership mapped
Shareholders at 25%+ threshold identified. Parent companies traced.
UBOs identified
Ownership chain traced to natural persons in control.
All parties verified
KYC run on all directors and UBOs. Sanctions and PEP screening applied.
Key Benefits
You know who actually controls every business you work with — not just who registered it
Ownership structures that would take hours to map manually are produced in minutes
Sanctions and PEP checks applied to every director and beneficial owner automatically
Complex ownership structures flagged for enhanced due diligence
Complete corporate verification record stored — exportable for AUSTRAC on demand
Industry Examples
Merchant KYB complete before platform access — all directors and UBOs identified, screened, and verified.
Corporate client onboarding maps full ownership structure — KYB completed as part of engagement intake, not after.
Corporate matter client UBOs identified and verified before advice is provided. EDD triggered where beneficial owners are in high-risk jurisdictions.
Try KYB / Business Verification free for 7 days
See through complex ownership structures to the people who actually control your business relationships.