Visual Business Register displays commercial networks in Estonia
Estonia's e-Business Register now offers a new and convenient tool for getting a graphical overview of the connections between legal persons registered in the Business Register and natural persons. The Visualized Business Register enables the possibility to make inquiries concerning persons related to companies and the results are displayed as a graphical drawing.
The e-service, which was initially created for the detection of money laundering schemes, is now available also to all the contractual clients of the e-Business Register. Thanks to the Business Register visualization service, it is easier for entrepreneurs to investigate the backgrounds of their cooperation partners or debtors. In addition, the work of government officials, investigative bodies, and journalists who investigate the connections between legal persons and money laundering schemes has also been simplified.
The visualization of an inquiry enables to the user to get an easy yet thorough overview of the connections of a company or a person with other companies. An interactive image shows the connections between companies and entrepreneurs and different ownership structures. The system was created based on the objective that the system would simplify the work of an average user and be user-friendly. The same data can also be retrieved in the usual manner by making inquiries from the e-Business Register; however, visualization makes the connections easier to understand.
The service enables the investigation of the backgrounds of companies both through valid and invalid connections, making earlier ownership relations visible as well. Through the Visualized Business Register, it is also possible to make inquiries directly from the e-Land Register, which provides an overview of registered immovables related to persons, or from the Official Notices homepage, which provides additional information on any possible legal obligations imposed on persons. The possibility to look at information from several different sources simultaneously makes the Visualized Business Register an especially effective background check and is a valuable means for preventing money laundering and fighting against corruption.
The state guarantees the relevance and authenticity of the e-Business Register data, allowing decisions to be made based on the data obtained.
Connecting the European Business Register (EBR) to the Visual Business Register is also being planned, thus making it possible to make inquiries from a register incorporating 27 European Member States. An international dimension to the visualization solution would also facilitate the surveillance of global money laundering.
Additional information on the Visualized Business Register is available here: http://www.rik.ee/uus/eng/