Ultimate Beneficial Owners

Workflows > Endpoints > Contacts > UBO


Purpose: Manage Ultimate Beneficial Owner (UBO) records on customer and supplier contacts.

A UBO is a natural person who meets the regulatory threshold for beneficial ownership — typically through ≥ 25 % ownership (Share) or through control such as voting rights (HasVotingRights). The free-text field GroundsForUBOStatus lets the integration record the specific basis on which the person qualifies as a UBO, supporting auditable AML documentation.

The endpoint operates exclusively on contacts of type customer or supplier. Visibility is also limited to contacts that have an active customer or supplier sub-ledger account. UBOs for customers are returned only if the integration has a Customer privilege; UBOs for suppliers only if it has a Supplier privilege.

UBOs are always natural persons, unlike ContactShareholders which can represent either persons or organizations.

Endpoint

Description of core flow

  1. Identify the contact via the Customers or Suppliers endpoint to retrieve the contactId.

  2. Determine the natural persons meeting the UBO threshold based on your AML due-diligence process (ownership ≥ 25 %, control through voting rights, or other control).

  3. POST each UBO to /ContactUBOs/{contactId} with at minimum FirstName and LastName (both required), plus address, identification, basis of UBO status (Share and/or HasVotingRights plus GroundsForUBOStatus), and compliance flags (IsPep, IsRca).

  4. Share is a decimal between 0 and 1 (e.g. 0.30 for 30 %).

Prerequisites

  • ContactUltimateBeneficialOwner (read-only) — query UBO data

  • ContactUltimateBeneficialOwner_Full — create, update, and delete UBOs

  • Customer / Customer_Full — required to access UBOs on customer contacts

  • Supplier / Supplier_Full — required to access UBOs on supplier contacts


Related workflows:


Dictionary/Terminology:

  • UBO (Ultimate Beneficial Owner): The natural person(s) who ultimately own or control a customer or supplier, as defined under AML regulations. Always a person, never an organization.

  • Beneficial ownership: Ownership or control sufficient to be classified as a UBO. Under Norwegian AML law (hvitvaskingsloven), typically ≥ 25 % direct or indirect ownership, or control via voting rights or other means.

  • PEP (Politically Exposed Person): An individual who holds or has held a prominent public function, treated as higher risk for money laundering and corruption.

  • RCA (Relative or Close Associate of a PEP): An individual with a close personal or professional relationship to a PEP, subject to similar enhanced due diligence.

  • EDD (Enhanced Due Diligence): Additional verification and monitoring procedures applied to higher-risk relationships.

  • Share: Ownership fraction expressed as a decimal between 0 and 1.

  • Grounds for UBO status: The specific basis under AML regulation by which the person qualifies as a UBO.