Do you really know your customers, your vendors, and your third parties? You must today. Beneficial Ownership and Ultimate Beneficial Ownership (UBO) identification and verification are critical requirements for combating everything from financial crime, tax evasion and corruption, fraud and money laundering, to trafficking and terrorist funding. These activities are happening around the world at an unprecedented pace, and can have a devastating impact on an organization's reputation, value and bottom line. This white paper explores the issues and challenges of Beneficial Ownership. It highlights ways to gain confidence on ownership issues with customers, discusses the importance of a single customer view and role of data analytics, and showcases a master data management (MDM) approach that could improve operational efficiency and on-demand enterprise-wide risk visibility.