Do you have a business relationship with BeFrank? Than we need a UBO statement from you. Without this statement, you cannot have or enter into an agreement with us. On this page, you can read what this means for you as an employer and why it is necessary.
Why do I need to complete a UBO statement?
BeFrank is legally obliged to record the Ultimate Beneficial Owners in its records and check them against the sanction lists. This is part of the Wwft (Anti-Money Laundering and Anti-Terrorist Financing Act) which acts to prevent money laundering and terrorist financing. This law applies to all financial institutions in Europe. If your company’s UBO are not known to us, we will request them from you.
In which cases do you not fill in the form?
You don’t have to fill in the form if your company is:
- a sole proprietorship, or
- an association, or
- a listed company
BeFrank is responsible for the processing of personal data. The General Data Protection Regulation applies to the processing of personal data. The data obtained is processed in the context of the customer due diligence performed by insurers and other parties in order to comply with the Customer Due Diligence (CDD) obligations arising from the Dutch Financial Supervision Act and the sanctions laws and regulations. The data are also processed to prevent and combat fraud against financial institutions and for statistical analysis.
Please feel free to contact us.