Metadata is basically data (written information) that provides information about other digital data.  Descriptive metadata describes a resource for purposes such as discovery and identification and can include title, author, versions, number of pages, relationships, the types, and other characteristics of digital materials.  It also can include information to help manage a resource, such as when and how it was created, file type and other technical information, and who can access it.

A paper to pdf or digitallty created document that complies with all the legal requirements of a certain jurisdiction or country, and standards applicable to dematerialization of a document from its paper-based to a digital medium or to the migration of data from another medium to create “Legally Authentic Documents”.

Simply put “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)  We have found one of the best descriptions of the current and future use of the Blockchain is here. https://blockgeeks.com/guides/what-is-blockchain-technology/

Having the highest probative value means it has the greatest weight that can be given to a document in terms of authentic value, compared to any other document presented in a court of law. For a document, the probative value is evaluated in relation to The Best Evidence Rule.

The more authentic a document is and the more its contents can be linked to its creator (or can prove that an individual had the authority to represent the creator of the document if the creator is not the individual), the greater the weight of its probative value because it tends to prove that it is the original. Based on legal principles, the notion of document integrity is often associated with authenticity, that which is often found in both case law and evidence law.

The Chain-of-Trust is a patented process which creates a legally governed  chain of trust system for internal (employees) and external (suppliers, clients, 3rd parties) through a combination of verification services and SaaS technology.  The Chain-of-Trust guarantees that you will do business with trusted companies. A trusted company has been certified by a Certification Service Provider (CSP). To certify a company, they use lawyers, CPAs and notaries that are in good standing with their professional order. These independent professionals are called Registration Authorities. The certification process ensures that each company actually exists and is in good standing legally. The process also ensures that each person with a role in a company has their identity verified. Once this process is complete, the company is considered “trusted” and is certified in Clawd. Each person has their actions audited to ensure they follow the governance rules the company has established.

RegTech is rather new word meaning “regulatory technology” that describes the emerging wave of companies using cloud technology and software-as-a-service (SaaS) that are helping financial and other firms comply with businesses regulations in a transparent, efficient, and cost effective manner.

Due to various federal and global regulations businesses are required to know who they are doing business with and the person or persons who owns the business.  A “beneficial owner” is any individual who ultimately owns or controls more than 25% of a company’s shares or voting rights (whether directly or indirectly); or exercises controls over the management of the company in any other way.  The beneficial owner might be the same as the legal owner of the company (i.e. the individual(s) registered in the company’s shareholder register). A company may have one or more beneficial owners. UBO is an acronym for ultimate beneficial owner.

This was the question addressed by Yunhong Liu, Sr. Director, Global Regulatory Strategist at Dun & Bradstreet. We learned from this paper that “Doing business in a not-so-transparent world is challenging, but solely meeting the minimum regulatory requirements is not sufficient enough to protect businesses. Global firms need to use all reasonable measures, including the use of third-party beneficia l ownership data solutions, to stay compliant and further mitigate significant risks.”

In light of this conclusion, we think that it’s important we go over the possibilities that Clawd Technologies offers. In its corporate brochure, Clawd explains why the Clawd System of Operations (CSO) has been created. This CSO has been designed in such a way that one entity in the ecosystem can transmit to another entity a request for “beneficial ownership certification” or to apply for such certification itself. This system has been designed to connect with a trusted third party in charge of the execution of this certification. Indeed, UnikSign guarantees that the certification process is performed by a lawyer or a notary located in the country of residence of the entity covered by the certification, with the approval of the entity referred to in the demand.

Because the CSO is composed of verified entities who can store information related to their beneficial ownership, it becomes possible to achieve this verification and issue a certification. Each Entity member of the CSO manage a specialized directory based on its type and jurisdiction. The corporate data presenting the real beneficial ownership of an Entity is store in this directory and a UnikSign agent may access this information in order to issue a certification to the petitioning entity.

This system allows to (1) link all the entities with each other, internationally, (2) easily check the beneficial ownership of an entity before going into business with it by entrusting the responsibility of the verification to an expert who has the necessary expertise for such work and, (3) ensure compliance with regulatory requirements to protect the company against risks.

Business Verification is the process of determining the authenticity of a business entity by ensuring the information provided by the entity matches the info taken from the public information available from the in-country business registrar in the jurisdiction or by enhanced fact-finding.

When a customer and product/service combination is a greater risk together, Enhance Due Diligence is needed to mitigate the increased risk.  A high risk situation could be an increased opportunity from money laundering or terrorist financing.  Additional due diligence entails gathering additional information, verifying the customers identity or even sources of revenue.

KYCC is Know your customer’s customer.  This is part of enhanced due diligence, which requires a business to understand whether a customer is dealing with any sanctioned entities or countries.

Businesses are required to ‘know their customers’ to comply with compliance and regulation and a range of risks such as money laundering and terrorist financing.  This due diligence.

helps the businesses ensure that the customers are who they say they are, to guard against fraud, including impersonation and identity fraud. CDD enables businesses to protect itself against potential financial crimes.

AML laws were created to help detect and report suspicious activity including the signs of securities fraud, market manipulation, money laundering, and terrorist financing.  Anti-money-laundering refers to sets of procedures, laws and regulations designed to stop the practice of generating income through illegal actions. These rules prevent corruption, terrorist financing and other criminal activities.  Governments have enacted AML regulations to require banks and other financial institutions verify that the customer and their funds are legitimate.

Know your customer refers to bank regulations (and other business) and anti-money laundering regulations that describes the process of a business verifying the identity of its clients and assessing potential risks for the relationship such as illegal activities. Know your customer processes are also employed by other companies to ensure their proposed agents, consultants, or distributors are anti-bribery compliant. Part of the AML, financial institutions are required to establish customer identity and do customer due diligence to determine the source of the customer’s funds and associated risk of doing business with them.

KY3P describes the processes of due diligence oversight for business third parties. More firms increase reliance on third parties to deliver processes and services meaning verification issues increase. Verification includes financial profile, corporate hierarchies, products and services.