by InScope-AML

September 12, 2019

Version 5.1


Controllers in Trusts & Other Organisations

Up till recently, controllers as individuals could be included for companies. This has now been extended for the system to be able to identify controllers for both trusts and other organisations. The process of adding a controller shall remain the same throughout.

For most of our clients, controllers are defined as beneficial owners. Therefore, adding controllers at a trust or organisation level will automatically define such individuals as UBOs within companies owned by the trust/organisation.

As a practical example, one could set the protector of the trust as having controlling decisions and acting as a beneficial owner over the trust should the beneficiaries be of a minor age or as stated by the trust deed.

Class of Beneficiaries

The system will now enable you to add a ‘Class of Beneficiaries’ within ‘Beneficiaries’ for Other Organisations.

The process is very similar to adding an individual/company as a beneficiary. Once ‘Class of Beneficiaries’ is selected, the system will prompt you to enter the details of such class as well as an optional appointment/termination date.

Segments based on Shareholders

InScope-AML now provides the ability for segments to be created based on shareholders.

The process of adding such is very similar to creating any other segment. When adding a filter condition for a segment, you can now choose the option ‘shareholder’ from the ‘Is a/Has a’ dropdown menu and continue configuring the segment to your specifications.

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