Compliance: Strategic tools to enhance transparency and trust in companies


In the current economic context, adopting Compliance measures in companies, apart from being an obligation, is a public interest mission. It is becoming of major importance for companies to implement their own Compliance program, not only to protect their own business but also to comply with established rules, laws, regulations, and guidelines.


At Iberinform, we are sensitive to this issue and we wanted to accompany companies on this path. In what is a difficult economic climate, it is essential that companies develop businesses in a favourable environment of trust and greater transparency.


Iberinform's AML Compliance and Risk solutions allow companies to act and take the necessary steps to comply with the current legal framework, avoiding being subject to sanctions or administrative offenses. Among other benefits, compliance solutions are also generators of credibility for companies, thus attracting investors and generating wealth in the value chain. Likewise, they reduce their risk, thus increasing their competitive advantages.


To comply with new regulations regarding the true owners and stakeholders of your entity customer in an efficient, automated way, Iberinform developed the “On Demand” solution that allows its customers to access information about the Ultimate Beneficial Owner (UBO) of the companies with which they interact. Iberinform developed a platform based on an automation system that allows the determination of who the associated people and companies are, crossing this information with the one present in the RCBE (Registo Central de Beneficiário Efetivo – Ultimate Beneficial Owner Central Register) in which companies are obliged to register.


The results of the research cover associated natural and legal persons, descending in the structure the necessary levels that fulfil the requirements to be Ultimate Beneficial Owner. All persons who control a company, fund or other legal entity are identified.


Through the Beneficial Owner “On Demand” solution, the user has all the relevant information to know who they are and what the business connections of the business partners are, to know the UBO of the companies with whom they do business and to detect conflicts of interest.


Benefits of this solution:


  • • Trust and transparency in business partners

  • • Decrease risk exposure for certain companies

  • • Protect your brand's good reputation

  • • Avoid having business relationships with sanctioned companies or people


In the same line of development and providing its customers with new solutions for this service segment, Iberinform, to meet the AML obligations in force in Portugal, referred to in the Law on Preventing Money Laundering and Financing of Terrorism, joined the Portuguese tech company PEPData, which developed the software that allows the identification of entities and individuals that have been subject to sanctions, as well as Politically Exposed People (PEP’s) and their relatives. In addition to reducing bureaucracy and simplifying processes, the solution allows modelling according to the needs of companies in full compliance with the law, as required by the Regulators of each sector.


Currently, this solution covers more than 95% of PEP's of Portugal and Spain, it is expected that the coverage is to extend to all of Europe by the end of the year.


These Iberinform initiatives complement its offer of solutions made available to customers, providing them not only with new alternatives that help them manage risk and decision making with sustained information, but also solutions that help them avoid potential sanctions, resulting from the non-compliance with the legal framework in force.


In this way, the fulfilment of its mission to act as an agent facilitating compliance with the rules to generate greater trust and transparency in companies is maintained.


António Monteiro Country Manager - Iberinform Internacional – Sucursal em Portugal




16 views