TABLE OF CONTENTS


What's changing

We're expanding our Know Your Business (KYB) integration to reach 100+ countries. Accessing new registers requires different tools, including OCR and document reading technology, which may extend the build time for your entity structure. 


We'll show you an estimated completion time, so feel free to navigate away and return later.

You won’t see any changes for the following jurisdictions for KYB unwrap: Australia, France, Ireland,  Malaysia, New Zealand, Singapore and the UK.


To find the list of live jurisdictions and estimated unwrap times per country please contact First AML Support at [email protected] 


Please note there is a billable charge for each unwrap. The cost varies depending on the entity's jurisdiction. Please contact [email protected] 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 now 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.


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.