Everything you need to know about ultimate beneficial owners (UBOs) – Join the webinar
Ultimate Beneficial Owners (UBOs) have become one of the most talked-about FICA topics, but they still often raise more questions than answers.
nCino KYC Africa is therefore unpacking everything you need to know about UBOs in an upcoming webinar.
The webinar, which was hugely popular with previous attendees, will take place on 20 August 2025 at 10:00, and will ensure you get all your burning questions answered.
Lowered threshold
FICA requires Accountable Institutions to identify and verify Ultimate Beneficial Owners. This is to prevent criminals from concealing ownership through complex structures.
To further the fight against criminal activity in South Africa, the FIC (Financial Intelligence Centre) has recently lowered the threshold for identifying UBOs.
It strongly recommends that institutions consider individuals holding 5% or more of an ownership interest in a business as having a controlling stake.
This is a significantly lower threshold than the previous 25% threshold, and is a powerful tool in uncovering what criminals might try to hide.
By looking closer at ownership structures, and accounting for individuals with over a 5% ownership stake, investigators are much more likely to identify scenarios where one person holds multiple smaller shareholdings across various entities.
This is a common tactic used to maintain control while staying under the radar. Read more about this tactic here.
Based on this, as an Accountable Institution, you must take several important steps to identify and verify all UBOs who exceed this 5% threshold.
What you will learn
This webinar will provide actionable insight and address key questions such as:
- How do I determine who qualifies as a UBO?
- How should UBOs be integrated into my RMCP?
- And what does the 5% threshold mean for my business?
If you’ve asked any of these questions, this webinar is for you!
As an added bonus, attendees will receive a newly created UBO Guide, which is packed with insights and tips to help you identify UBOs.
Driving change in South Africa
As South Africa continues to strengthen its defences against financial crime, we move closer to not just exiting the FATF’s grey list, but to building a robust financial system that is truly world-class in its integrity and transparency.
This evolution will have far-reaching effects, potentially attracting more foreign investment, improving our global economic standing, and fostering a more ethical business environment domestically.
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