TABLE OF CONTENTS


Our Know Your Business (KYB) integration reaches 100+ countries. 


To find the list of live jurisdictions and estimated unwrap times per country please contact First AML Support at support@firstaml.com 


Please note there is a billable charge for each unwrap. The cost varies depending on the entity's jurisdiction. Please contact support@firstaml.com for further information on costings.  


How it works

  1. Create a case and input the Legal Name and Jurisdiction of the company as usual. Company Number is an optional field. Submit the case and you will then land on the Structure tab.
  2. Click ‘Start Unwrap’ to trigger the unwrap process. First AML will then start gathering the local registry's corporate data. The time it takes may vary, we will notify you via an in-platform notification when the information is available from the relevant registry.


  3. If we cannot find an exact match for the company name within the selected jurisdiction, a search slide-out will appear on the right of the page. It will show all close matches to the company name. You can scroll through the bar and select the correct entity. Then click ‘Confirm entity’ to trigger the unwrap. 


  4. Once the registry information is available, you will be notified that the company unwrap for your entity is ready. Click on your profile icon on the bottom right to access your notifications. Then click on the relevant notification to navigate back to the case to review the beneficial ownership details and the company extract.



         5.  If additional layers of shareholding entities are identified, you can continue to unwrap each layer. 

              Click ‘Start unwrap’ to trigger the unwrap

             

     


      6. Depending on the information available per the registry, we may not be able to display the shareholding                    within the Structure tab. You can view the company extract to build out the structure manually.



Unwrapping Your Companies Automatically

 You can set up an automation to unwrap company structures a set number of layers deep. This means when a new case is created the platform will automatically reveal the underlying shareholding layers, saving you time and manual effort.


If your compliance policy requires identification of any entity or individual that owns more than 25% of the structure, you can set your automation to unwrap 3 or more layers deep to help identify these Ultimate Beneficial Owners (UBOs) without manual intervention 


The auto-unwrap process depends on whether the company registration number is provided at the time of case submission:

  • If the correct company registration number is entered at case submission:
    The unwrap will begin automatically once the case is submitted. No additional action is required.
  • If the company registration number is not entered at submission:
    You will need to manually start the unwrap after case creation. Once the unwrap is triggered manually, automations will still apply as expected from that point onward.


How to Set It Up:

  1. Go to Automations in your platform settings.
  2. Create or edit a rule related to structure retrieval.
  3. Select the “Auto-unwrap layers” action.
  4. Choose how many layers you’d like the automation to go down (e.g. 2, 3, or more).
  5. Save and activate your rule.

This helps streamline onboarding and ensure key shareholding information is surfaced early.



How to troubleshoot common errors

  1. My unwrap button is disabled. How do I confirm the jurisdiction of a company?

    1. You can do this by navigating to the ‘Structure’ tab and clicking the ‘Edit’ button.
    2. Click on the entity and it will bring up the edit module on the right-hand side. Change the ‘Registered country’ field to the jurisdiction the company is located in.  Click “Update entity’.
    3. Navigate back to the Structure tab.  You should now be able to click the ‘Start Unwrap’ button to trigger the KYB unwrap.
  2. My search is bringing up the wrong matches, what should I do?
    1. Double-check that the company number and registration authority (if applicable) are correct. This will help to narrow down the searches.
    2. If the entity’s legal name is in non-Latin script, try the search again in the local alphabet e.g. Simplified Chinese characters.
    3. Flag this with your First AML contact and we can investigate further.
  3. The Entity type is ‘Unknown’ and I can’t unwrap the company.
    1. Changing the entity type from ‘Unknown’ to ‘Private company’ will enable the unwrap again. You can do this by navigating to the ‘Structure’ tab and clicking the ‘Edit’ button.
    2. Click on the entity and it will bring up the edit module on the right-hand side. Click on ‘Entity type’ and change the entity type from ‘Unknown’ to ‘Private Company’. Then click ‘Update entity’.
    3. Navigate back to the Structure tab.  You should now be able to click the ‘Start Unwrap’ button to trigger the KYB unwrap.
    4. The platform has not received the required information from the registry and this requires manual intervention to update.  

Please also refer to this help centre article for more tips on how to troubleshoot entity verification errors or this article for further information on unwrapping companies 

FAQs

  1. Why does the corporate information differ by jurisdiction? Documents vary on a country-by-country basis depending upon the laws and regulations of that specific country in relation to public access to such information and the requirements to file such information with the company registry.
  2. Why is some information not provided by certain company registries? Information is usually not provided by some company registries due to local laws and regulations which restrict the public disclosure of certain sensitive information.
  3. Why are all documents not provided in English or the language of my choice? All company registries provide documents in the language of that particular country. The unwrap tool automatically extracts key company information from all incorporation documents, providing users with standard information in English across all jurisdictions.

Feedback & questions?

Contact your First AML representative with any questions or to provide feedback.