A Regulatory Reporting Obligation since the implementation of the Fourth AML Directive.
Finanical Institutions must report in an aggregated form their Deposits and Loans based on the country of the Ultimate Beneficial Owner (UBO) of each account holder.
Further analysis / breakdowns are also required such as:
- Country Code (Residence) of Account Owner
- Currency Code
- Maturity (bucketing)
- Type of Deposit
- EINS Code
The AML UBO Reporting Module of FRCS fully complies with the Regulatory and Reporting Requirements of this return and allows Financial Institutions to automate the generation of this production. The Reporting Module also includes a number of validation checks to ensure data completeness and correctness,