What does KYB mean?
At XXImo, Know Your Business" (KYB) is a due diligence concept based on compliance requirements that focuses on knowing legal entities as counter-parties. In other words, our KYB process focuses on screening our partners, service providers, suppliers etc.
KYB includes an analysis of ownership, control structure, the roles of individuals within the organization (Company Representatives or UBOs), and verification of its Ultimate Beneficial Owners (UBOs), such as those outlined in the Dutch Money Laundering and Terrorist Financing Prevention Act (Wwft) and the Financial Supervision Act (Wft). All financial institutions including XXImo FS must conduct these checks to verify and assess potential business relations' backgrounds, legitimacy, and risks.
Depending on the business relationship and contract between your company and XXImo FS or its affiliates, we may ask questions to get to know your company better.
We have been asked many questions before. We have listed these questions with the answers. Your question may also be listed.
Please contact our KYC/KYB team by filling in the contact form. We will come back to your question as soon as possible.