How can I detect a fake company?

Gathering information about a company and verifying the data through reputable sources helps detect if a company is fake.

Know Your Business is a set of compliance procedures that determine if a company is legitimate. It includes due diligence that assesses the risk of doing business with the entity.

An ultimate beneficial owner is a real person who owns or controls a business or legal entity. Various legal structures can make it difficult to identify UBOs.

What is the difference between KYC and KYB?

KYC is about conducting due diligence on people, while KYB is about doing the same for business entities. Business documentation and financial activities are generally more complex and pose a higher risk, so the verification and risk assessment requirements are more stringent.

Why do companies often need a KYB solution?

KYB often requires considerable time and effort. Automated KYB reduces costly manual checks, helps ensure accuracy with in-depth reporting and can improve risk evaluation to enhance fraud protection.

What is the KYB process?

A typical KYB process includes verifying business documentation, analyzing the company profile, performing a risk assessment, determining entity ownership and control, implementing enhanced due diligence and conducting ongoing monitoring.

Business Essentials Fast, Easy Business Data Lookup

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Search, Identify and Verify Businesses Vitals Worldwide

Access essential business entity data, updated every 15 seconds, to drive onboarding and reverification anywhere in the world. Automate the search for any combination of business numbers, names and addresses. Trulioo ensures the latest and most accurate data across the globe, enabling efficient business verification for all types and sizes in seconds.

Accelerate Onboarding With Elevated Verification Rates

Verify organizations in real time. Use a single data set – such as an address, name or business number – to identify essential company information. Cross-check that data against current, accurate global databases – such as government registries and third-party sources – to gain a clear view of a business.

Apply Intelligent Routing to Verify All Businesses

Ensure data authenticity while blending business and person verification to rapidly onboard companies, micromerchants and sole proprietorships. Build trust in your ecosystem with fresh, audit-ready and transparent multisource data across the globe.

Automate With a Global Business Network

Access the Trulioo business network and verify the data you need no matter the size of the company or where it operates. With straightforward integration into your onboarding tech stack, Trulioo automates business data verification and helps you make informed decisions for advanced due diligence.

Comply With Regulations Worldwide

Global enterprises are subject to oversight by numerous regulatory agencies, including the FCA, CySEC, FinCEN, AUSTRAC, PPATK and FINTRAC. The world’s largest organizations rely on Trulioo to meet global regulatory standards, such as AML/CFT, DAC7 and the INFORM Consumers Act.

Solution Sheet

How Business Verification Affects Your Operations

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Essential Business Data Anytime, Anywhere

Gain access to critical local and global data sources and the expertise to instantly navigate the complexities of country-specific tax IDs and business registration numbers (BRNs). The world’s leading organizations trust Trulioo to quickly verify company names, addresses and business numbers.

Snapshot of Trulioo Data by Country

Verify organizations using any combination of name, tax ID and provincial or federal BRN, such as corporation ID, register ID or the Canada Revenue Agency’s BN9 or BN15 number.

Verify businesses using any combination of name, location and registration data, such as business license certificate number, a new or old company registration number, a Unified Social Credit number or a Foreign Trade Registration Certificate enterprise code.

Verify organizations using any combination of business numbers. That includes BRNs such as the SIREN code for businesses and nonprofit organizations and the SIRET code for establishments and facilities. It also includes tax ID, or value-added tax (VAT), numbers such as numéro fiscal de référence (SPI). Trulioo advanced data intelligence normalizes diacritics as well as name and address variations.

Verify organizations using any combination of business name, city and number. That includes VAT numbers and BRNs such as the handelsregisternummer (commercial registry number) that identifies a company in the German Trade Register.

Verify organizations using any combination of business numbers, such as a codice fiscale (tax code number) or a BRN through the Economic and Administrative Index (REA).

Verify organizations using any combination of name, location, address attributes and business number. That includes BRNs such as the KVK-nummer (Netherlands Chamber of Commerce number) or a VAT number.

Verify organizations using any combination of business name, address and number. That includes BRNs such as the KRS (National Court Register) and the National Official Register of Entities of the National Economy (REGON) numbers as well as VAT, or NIP (tax ID), numbers. Trulioo advanced data intelligence normalizes diacritics as well as name and address variations. City, postal code and street name can also be identified.

Verify organizations with enhanced business data, including name and address as well as VAT number or BRNs, including certificado de identificación fiscal (fiscal identification number).

Verify organizations using any combination of address, postal code, VAT number and BRNs, including charity and company registration numbers.

Verify organizations using any combination of business address and identification number, including state-by-state business numbers, tax IDs and employer identification numbers.

Tailored Verification to Match Risk Levels

Organizations face a variety of risk profiles. Verify company vitals and analyze up to 150 data fields to reveal risk patterns.

Fresh, Standardized Data for Peak Performance

The Trulioo business network updates every 15 seconds, using data from the most accurate registries and third-party sources.

Streamlined Decision-Making

Quickly access the business data you need for verification. Automate the escalation process based on initial verification outcomes.

Accelerate Business Onboarding

Rapidly perform the first layer of business verification with automated KYB checks that verify organizations in seconds. Defend against fraud and meet business onboarding compliance requirements around the world.