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Tasks for company profiles

The following tasks can be used to run checks on company profiles:

Assess company fraud risk

Evaluate potential fraud based on any matches to the company details.

Checks for this task: Fraud check

Forms can be added to this task.

API name: COMPANY_FRAUD_SCREENING

Assess company ownership

Find and verify entities with ownership and control of the onboarded company.

This task lists the company's global ultimate owners, beneficial owners, controlling shareholders, and shareholders, as well as any available information on the percentage of shares each one holds.

The task shows the path to ownership from each associate where this is available from your data provider. Currently, only Moody's Analytics Orbis can retrieve the path to ownership data for the Assess company ownership task.

Contact us to discuss how to configure the Assess company ownership task for your data provider.

Once an individual or company is on the ownership list, they can be added to the Ownership verification list for verification. This can be done manually or automatically.

The following associates never get added to a verification list by automatic addition: Resigned officers, company secretaries, officers with a role of Other, and shareholders with an unknown share percentage.

Automatic addition to the Ownership verification list can be set to:

  • Add all profiles: All global ultimate owners, beneficial owners, and controlling shareholders are added to the verification list, as well as shareholders with a known share percentage.

  • Add profiles with a percentage of shares greater than or equal to a threshold: All profiles with a known percentage of shares greater than or equal to the specified threshold are added to the verification list. Associates who are beneficial owners with an unknown share percentage are also added.

  • Add up to a specific number of profiles: Associates are automatically added up to a specified maximum. The associates chosen for automatic addition are selected based on their role and share percentage. Global ultimate owners are added first, followed by controlling shareholders, beneficial owners, and finally shareholders. Within each role, associates are selected according to their share percentage. For example, a global ultimate owner with an unknown share percentage will be added in preference to a beneficial owner with a 5% share.

  • Add profiles with selected roles: Associates identified as beneficial owners, global ultimate owners, or controlling shareholders are added to the verification list. Shareholders are not included for performance reasons.

When adding to the list automatically, there is a limit of 100 direct associates.

You can manually add individuals or companies to the verification list using the New associate profile button on the profile task page.

Verification can be performed manually, or it can be performed automatically using an associate smart policy. If you're using an associate smart policy, you can configure the task to be marked as passed automatically when one of the following is done:

  • All profiles on the verification list are verified successfully.

  • A specified number of profiles on the verification list are verified successfully, starting with those with the highest share percentage.

Checks for this task: Company data check

Forms can't be added to this task.

API name: COMPANY_ASSESS_OWNERSHIP

Assess financials

Evaluate a company's credit risk and verify its financial statements.

Checks for this task: Company data check

Forms can't be added to this task.

API name: COMPANY_ASSESS_FINANCIALS

Assess merchant fraud risk

Evaluate whether a company is sanctioned.

Checks for this task: Merchant fraud check

Forms can't be added to this task.

API name: COMPANY_MERCHANT_FRAUD_SCREENING

Assess sanctions

Evaluate whether a company is sanctioned.

Checks for this task: Sanctions and adverse media screening

Forms can't be added to this task.

API name: COMPANY_ASSESS_SANCTIONS_EXPOSURE

Assess sanctions and adverse media

Evaluate whether a company is sanctioned or has been named in an adverse way by any news source.

Checks for this task: Sanctions and adverse media screening

Forms can't be added to this task.

API name: COMPANY_ASSESS_MEDIA_AND_SANCTIONS_EXPOSURE

Assess website content risk

Evaluate a company's website content and assess its risk.

Checks for this task: Website content check

Forms can be added to this task.

API name: COMPANY_ASSESS_WEBSITE_CONTENT

Identify authorized persons

Find and verify the individuals who are authorized to purchase and, where relevant, use the product on behalf of the company.

This task provides an Authorized persons list, which is initially empty. You add individuals to this list manually. You’re asked to provide the individual’s name and, if possible, their date of birth, email, phone number, nationality, and relationship to the company.

Note that if you add an authorized person with past tenure dates through the API, they will be considered a former authorized person and will not be added to the verification list.

It's not possible to import a list of authorized persons. Authorized persons are always added manually.

Once an individual is on the Authorized persons list, they can be verified. Verification can be performed manually, or it can be performed automatically using an associate smart policy.

If you’re using an associate smart policy, you can configure the Identify authorized persons task to be marked as passed automatically when all or a specified number of authorized persons on the verification list have been verified successfully.

Checks for this task: None

Forms can't be added to this task.

API name: COMPANY_IDENTIFY_AUTHORIZED_PERSONS

Identify officers

Identify and verify key decision makers at the board level, for example, directors and company secretaries.

This task provides an Officers list, which is initially empty. You can add individuals or companies to this list manually or configure Passfort to import them from your data provider automatically, along with any available information about their roles, the dates they were appointed, the dates they resigned, and their dates of birth.

Once an individual or company is on the Officers list, they can be selected for verification which moves them to the Officers verification list. You can configure the task so all officers or a specified number of officers are added to the verification list automatically.

The following associates never get added to a verification list by automatic addition: Resigned officers, company secretaries, officers with a role of Other, and shareholders with an unknown share percentage.

If you specify a number of officers, those who have been appointed the longest are selected.

Verification can be performed manually, or it can be performed automatically using an associate smart policy.

Checks for this task: Company data check, Company registry check

Forms can't be added to this task.

Note

In most cases, if you’re using an associate smart policy you’ll want to verify all officers on the verification list. However, it is possible to specify a number of officers to be verified.

API name: COMPANY_IDENTIFY_OFFICERS

Identify shareholders

Identify and verify shareholders, individuals or companies, with significant voting rights and control.

This task provides a list of shareholders and beneficial owners associated with the company.

  • Add individuals or companies to this list manually using the New associate profile button on the profile task page.

  • Configure Passfort to import them from your data provider automatically, along with any information available about the percentage of shares each one holds.

Once an individual or company is on the Shareholders list, they can be selected for verification which moves them to the Shareholder verification list.

You can configure the task to add shareholders to the verification list automatically.

The following associates never get added to a verification list by automatic addition: Resigned officers, company secretaries, officers with a role of Other, and shareholders with an unknown share percentage.

Automatic addition to the Shareholder verification list can be set to:

  • Add all profiles: Every shareholder returned by the data provider is added to the verification list, up to a maximum of 100.

  • Add profiles with a percentage of shares greater than or equal to a threshold: All profiles with a known percentage of shares greater than or equal to the specified threshold are added to the verification list. You can also choose to include or exclude all beneficial owners with an unknown share percentage.

  • Add up to a specific number of profiles: Add a specified number of shareholders, starting with those who own the highest percentage of shares.

Verification can be performed manually or it can be performed automatically using an associate smart policy. If you’re using an associate smart policy, you can configure the task to be marked as passed automatically when one of the following is done:

  • All shareholders on the verification list are verified successfully.

  • A specified number of shareholders on the verification list are verified successfully, starting with those who own the highest percentage of shares.

Checks for this task: Company data check, Company ownership check

Forms can't be added to this task.

Note

The Assess company ownership task provides a more comprehensive list of individuals and companies with ownership and control of the onboarded company. Contact support to discuss your requirements.

API name: COMPANY_IDENTIFY_BENEFICIAL_OWNERS

Identify trustees

Identify and verify key decision-makers at the board level, for example, chairs and secretaries.

This task provides a Trustees list, which is initially empty. You can add individuals or companies to this list manually or configure Passfort to import them from your data provider automatically, along with any available information about their roles, the dates they were appointed, and the dates they resigned.

Once an individual or company is on the Trustees list, they can be selected for verification which moves them to the Trustees verification list. You can configure the task so that all trustees or a specified number of trustees are added to the verification list automatically. If you specify a number of trustees, the ones who have been elected/appointed the longest are selected.

If an Officers verification list exists and is set to automatically add associates, then trustees added to the Trustees verification list are also added to the Officers verification list automatically.

Verification can be performed manually, or it can be performed automatically using an associate smart policy.

Checks for this task: Charities registry check

Forms can't be added to this task.

Note

In most cases, if you’re using an associate smart policy you’ll want to verify all trustees on the verification list. However, it is possible to specify a number of trustees to be verified.

API name: COMPANY_IDENTIFY_TRUSTEES

Review company filings

Confirm a company's filings are in order and up to date.

Checks for this task: Company filings retrieval

Forms can't be added to this task.

API name: COMPANY_REVIEW_FILINGS

Verify bank account

Confirm a company's bank account details are valid.

Checks for this task: Document verification

Forms can be added to this task.

Note

One way to achieve this task is to use the Document verification check to automatically validate a company’s bank statements.

API name: COMPANY_VERIFY_BANK_ACCOUNT

Verify charity details

Verify whether a charity has charitable status.

If you configure Passfort to verify the status of the charity automatically, the following information that can be retrieved is displayed on the task:

  • Charity-specific information, for example, the charity commission number, the registration date, and who the charity helps.

  • General information, for example, the company number, company status, and areas of activity.

  • Contact information, for example, address and website.

  • Financial information, for example, total expenditure and total funds.

Checks for this task: Charities registry check

Forms can be added to this task.

Note

Passfort does not perform checks to verify the accuracy of the data.

API name: COMPANY_VERIFY_CHARITY

Verify company address

Confirm whether a company's address is valid and associated with that company.

Checks for this task: Document verification

Forms can be added to this task.

API name: COMPANY_VERIFY_ADDRESS

Verify company details

Confirm a company is actively registered with the company registrar required for its jurisdiction.

If you configure Passfort to verify the company identity automatically, any of the following information that can be retrieved is displayed on the task:

  • Identifying information, for example, name and company number

  • Company information, for example, incorporation date, entity type, and address

  • Regulator authorization, for example, FCA authorization

Checks for this task: Company data check, Company registry check, Document verification

Forms can be added to this task.

Note

Passfort only verifies the accuracy of the company number, country of incorporation, and, if available, Legal Entity Identifier (LEI).

API name: COMPANY_VERIFY_IDENTITY

Verify tax status

Confirm a company's tax status is valid.

Checks for this task: Document verification

Forms can be added to this task.

API name: COMPANY_VERIFY_TAX_STATUS

Custom task

Use this task however you like.

Gather additional information through task notes, document uploads, or a custom form.

With custom forms, you or a colleague completes the form manually.

Checks for this task: None

Forms can't be added to this task.

Note

Currently, custom forms can only be completed by the users of your account. You can manually upload forms completed by customers to the Task notes area.

API name: COMPANY_MANUAL_TASK

Additional information