michielbdejong
commented
3 years ago This could be augmented with date of birth, which does make an identity collision between fraudster and victim much more unlikely. But a one-cent bank transaction just give initials and surname afaik. So then it would need to be a passport photo upload, maybe?
But then, actually, how do you know the passport photo is not digitally edited?
The full name of the ultimately beneficial owner (UBO) is not a unique identifier, so I think it should not be considered. Still, in practice it's sometimes used, apparently, for instance when asking for a one-cent bank transaction.
This may also partially by about getting an undeniable handle on the currently logged in user, so it's not really verifying that they control the company, but rather making sure the police can find them afterwards if it turns out they were lying. This can then also work as a deterrent - if you have the same full name as the owner of some business, you could try to impersonate them, but then you do need to reveal your own real identity in doing so.