Fraudsters know that Companies House in the UK does no work to validate the data about corporate holdings that it houses. To counter this, the London RegTech firm of Kompli-Global is now offering firms the world’s first and only ‘connected’ global company registry, Kompli-Konnect.

The software analyses millions of corporate records and accompanying data on "persons of significant control," which is the phrase that British law uses to describe beneficial owners.

On top of this, it has just come to market with a corporate onboarding 'API-first' platform called Kompli-QED, which uses artificial intelligence. Although this seems at first sight to be irrelevant to private client managers, it can trawl through the information on Kompli-Konnect to spot links between individuals and corporate entities, as well as persons of interest. Banks that 'onboard' both HNWs and corporations might benefit. Risk indicators are thrown in. Some add-ons (called Kompli-IQ and IQ plus) use more than 500 search terms in more than 65 languages to perform  real-time searches of the web (including the invisible/dark/deep web) and governmental, regulatory and institutional databases all over the world to spot unsavoury information about new and existing customers.

Kompli-QED also does the following in respect of new and existing customers.

• Enhanced Due Diligence (EDD) research reports and video interview recordings.
• Verifies identities, ages and deaths.
• Authenticates identifying documents.
• Captures digital images and videos.
• Screens names to see if any Politically Exposed Persons (PEPs) or sanctions are in the picture.
• Uses "flag and alert risk indicators."
• Transfers documents and files securely.