Unclear structures: evidence and incomplete due diligence

Identify the specific gap

Specify what is missing: a foreign company’s owner, transfer effectiveness, voting agreement or supervisory powers. “Complex company” does not identify the evidence needed. Separate personal identity from the basis of ownership status.

List supported facts, client statements and unknown information separately. Dates and origins of key documents help distinguish actual contradictions from different periods.

Make reasonable efforts visible

Request relevant documents and use available trustworthy sources. Record what you checked, where and the result. If a suitable source is unavailable, record why and the alternative used. Searches need not be endless, but conclusions must fit the risk.

An internal chart or client declaration can organise information without proving a missing key connection. Increased risk may require additional information and multiple trustworthy sources under section 9a.

Connect each evidence request with the decision that depends on it. Explain the significance of a missing historical attachment; missing ultimate control is not a minor administrative detail. This distinction helps staff separate routine file completion from an obstacle to proceeding.

Fallback is not an excuse for non-cooperation

Section 5 of the Beneficial Ownership Register Act provides a senior-management fallback after all reasonably required efforts cannot determine an owner, and in the further statutory case involving control by an entity without an owner. It is not permission to choose a director whenever evidence is expensive or a client refuses to respond.

Record the legal fallback basis and relevant persons. Where a specific but unverified individual evidently exercises ultimate control, management cannot simply replace their verification.

Conclusions and decisions

Explain which persons were identified, applicable criteria and how identity and status were verified. If findings cannot support mandatory due diligence, say so expressly and apply section 15 refusal or termination under the relevant regime.

Uncertainty does not automatically mean criminal activity. Separately assess risk indicators for suspicion. Address register discrepancies under section 15a. Retain relevant unsuccessful steps too: they explain why you did not accept a particular conclusion.