As part of anti-money laundering (AML) requirements, any individual who owns or controls 25% or more of a company must be identified and verified.
This includes shareholders and beneficial owners with a 25% or greater ownership stake, as well as individuals who otherwise exercise significant control over the company.
Where an individual meets this threshold, AML checks should be carried out on them in their personal capacity. This includes obtaining and verifying their personal information, such as their identity, date of birth, residential address, and any other information required to satisfy customer due diligence requirements.
For more information on how to identify shareholders and Persons with Significant Control (PSCs), please refer to Obtaining company information