Ukrainian small and medium-sized businesses are increasingly seeking customers, investors, and partners abroad. However, for many small companies, the main problem is not the quality of their product but their low international visibility: a foreign partner simply does not have enough data to quickly identify and assess the company.
In international trade, a corporate presence consists of more than just a website and social media pages. Large companies and banks use professional business databases to verify legal information, addresses, management, industries, the scale of operations, corporate connections, and other information.
“For small businesses, the problem often sounds like this: ‘We are a real company, but no one abroad knows anything about us.’ That is why international business identification is important not only for large corporations. It helps a small Ukrainian company become understandable to a procurement professional, bank, or potential partner in another country,” Maksym Urakin noted.
SMEs should monitor the consistency of their legal and commercial information, maintain a consistent English-language spelling of their name, provide up-to-date contact details, and have a clear description of their activities. It is also important for a company planning to export to understand how it is classified in international systems and whether it can be easily found using industry-specific parameters.
D&B’s international data can be used not only to verify other companies but also to create and update a company’s own business profile. This is particularly relevant for companies seeking to connect to global procurement platforms or work with corporate clients.
Greater visibility does not guarantee a contract, but it reduces the information barrier between Ukrainian SMEs and foreign markets. In many cases, the speed at which a company can be verified determines whether a potential partner will proceed to the next stage of negotiations.
D&B — Interfax-Ukraine helps Ukrainian companies work with international business data and business identification tools.
Dun & Bradstreet is an international provider of business data and analytical solutions whose history began in 1841. D&B works with data on companies worldwide and provides tools for business identification, counterparty verification, credit and commercial risk assessment, compliance, and supply chain management.
The Interfax-Ukraine News Agency is the official representative of Dun & Bradstreet in Ukraine. The specialized D&B — Interfax-Ukraine division provides Ukrainian companies with access to international business data, helps them verify foreign counterparties, and assists them in working with D&B tools.
Questions can be submitted through the specialized D&B resource — dnb.ua, by email at Urakin@interfax.kyiv.ua, or by telephone at +38 (044) 270-65-74.
Ukrainian companies seeking to become suppliers to international corporations face formalized supplier onboarding procedures. For a large customer, receiving a commercial offer is not enough — it must unambiguously identify the legal entity, verify its owners, banking details, country of registration, and basic risks.
As a result, transparent business identification is becoming one of the practical barriers to Ukrainian suppliers entering global procurement chains. A company may meet technical requirements but lose time because of discrepancies in its name, address, registration data, or international profile.
“A supplier to a large corporation must not only be competitive but also easy to verify. The procurement officer must quickly understand exactly which legal entity stands behind the offer, who controls it, and whether the data match across different systems. For Ukrainian business, this is one of the elements of professional preparation for working with global clients,” said Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine, Head of the D&B–Interfax-Ukraine business unit, PhD in Economics.
Before registering in a supplier system, a company should verify its official English-language name, legal address, information about its director and owners, contact details, banking information, and international identifiers. If a D-U-N-S Number has already been assigned, it should ensure that the profile linked to it is up to date.
For an international corporation, such standardization reduces the risk of duplicate suppliers, fraud, erroneous payments, and sanctions violations. For a Ukrainian company, it speeds up the customer’s internal procedures.
Dun & Bradstreet works with a global system of business identification and corporate data used in supplier management, due diligence, and procurement processes. In Ukraine, the relevant services and support are provided by D&B – Interfax-Ukraine.
For Ukrainian manufacturers, IT companies, engineering enterprises, and service providers, a transparent business profile can become one of the basic tools for integration into the procurement chains of international groups.
Dun & Bradstreet is an international provider of business data and analytical solutions whose history began in 1841. D&B works with company data worldwide and provides tools for business identification, counterparty verification, assessment of credit and commercial risks, compliance, and supply chain management.
The official representative of Dun & Bradstreet in Ukraine is the Interfax-Ukraine News Agency. The specialized D&B – Interfax-Ukraine unit provides Ukrainian companies with access to international business data, helps verify foreign counterparties, and supports work with D&B tools.
Questions can be submitted through the specialized D&B resource — dnb.ua, by email at Urakin@interfax.kyiv.ua, or by phone at +38 (044) 270-65-74.
Before purchasing equipment abroad, a Ukrainian company should check the seller, its financial condition, address, owners and ability to fulfil the contract.
The purchase of industrial equipment abroad often requires a substantial advance payment. Depending on the terms of the contract, a Ukrainian buyer may transfer 30–70% of the price to the supplier before the equipment is manufactured or shipped.
The larger the advance payment, the more important it is to make sure that the foreign company actually exists, has the stated specialisation, production capabilities and experience in fulfilling similar contracts.
A professional website, presentation, photographs of the equipment and active correspondence are not sufficient proof. Fraudsters may use other people’s images, create companies with similar names or send invoices containing the bank details of a third party.
Before concluding a contract, it is advisable to check the seller’s exact legal name, registration number, address, date of incorporation, status, executives, owners, corporate affiliations, financial indicators and payment history.
D&B’s Business ID Report and Business Information Report may contain registration details, information about operations, corporate structure, financial indicators, credit ratings, payment behaviour and legally significant events.
“The more attractive the offer and the larger the advance payment, the more thorough the seller’s verification should be. Photographs of the equipment, a website and a corporate presentation do not confirm that the company has the necessary assets, experience and ability to fulfil the contract,” said Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine, Head of the D&B–Interfax-Ukraine business unit and PhD in Economics.
The bank details should be separately cross-checked against the legal entity specified in the contract. A change of bank account immediately before payment, a request to transfer money to another company or the use of a bank in a third country requires an additional explanation.
The risk can be reduced through staged payments, a documentary letter of credit, a bank guarantee, insurance, an independent inspection of the production facility or an inspection of the equipment before shipment.
If the seller is an intermediary, the buyer should understand who directly manufactures the equipment, who is responsible for the warranty and who will bear the obligations in the event of a delay or technical defect.
Verification is also necessary after the contract has been signed, especially if manufacturing takes several months. A deterioration in financial condition, a change of ownership or the cessation of operations may affect the fulfilment of the order.
Dun & Bradstreet has operated in the field of business information and risk assessment since 1841. The company provides international business reports and data on companies’ payment behaviour, corporate affiliations, creditworthiness and ownership structures.
Interfax-Ukraine is D&B’s official representative in Ukraine. The agency’s specialised unit helps Ukrainian companies order checks on foreign manufacturers, sellers and suppliers. Interfax-Ukraine has operated since 1992 and is an independent Ukrainian news agency.
For enquiries, please visit D&B’s specialised website at dnb.ua, email Urakin@interfax.kyiv.ua or call +38 (044) 270-65-74.
How to conduct sanctions screening of a foreign company, its owners and executives, and reduce the risk of payments and contracts being blocked. The strengthening of international sanctions has made counterparty screening a mandatory part of the work of Ukrainian exporters, importers, banks, logistics companies, and enterprises attracting foreign financing.
Searching for a partner’s name in an open sanctions list is only the initial stage. A company may not be directly subject to restrictions but may be linked to a sanctioned owner, director, parent company, or another legal entity from the same corporate group.
Additional complexity is created by different spellings of company names and surnames, transliteration, trade names, changes in registered addresses, and the use of intermediaries. Because of this, a simple check based on an exact name match may fail to identify a significant risk.
D&B compliance solutions are used to screen legal entities, beneficial owners, and related persons against sanctions lists, lists of politically exposed persons, information on legally significant events, and negative media coverage.
“Sanctions screening should not be reduced to entering a company’s name into a search bar. It is necessary to identify its owners, executives, parent companies, and subsidiaries. Amid tightening international restrictions, an error can lead to a payment being blocked, a contract being terminated, or reputational losses,” said Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine, Head of the D&B-Interfax-Ukraine business unit, PhD in Economics.
Before concluding a contract, a Ukrainian company should identify the legal entity, verify its registration details, establish its ownership structure, and compare the information obtained against sanctions and other risk lists.
Banks, carriers, insurance companies, and other participants in the future transaction require particular attention. Even when the seller and buyer are not subject to sanctions, a payment or delivery may be stopped due to the involvement of a high-risk intermediary, vessel, financial institution, or related company.
Based on the results of the screening, a business may refuse the transaction, request additional documents, change the payment route, include sanctions clauses in the contract, or provide for the right to terminate cooperation if the partner’s status changes.
Sanctions compliance does not end after a contract is signed. The status of a company or its owner may change while a long-term contract is already being performed. That is why regular monitoring is advisable for key partners.
Dun & Bradstreet has been operating in the field of business information since 1841. The company provides solutions for third-party screening, analysis of corporate relationships, identification of beneficial ownership, sanctions screening, credit risk management, and supply chain monitoring.
In Ukraine, Dun & Bradstreet products and data are represented by the Interfax-Ukraine News Agency. Its specialized division helps Ukrainian companies screen foreign counterparties and work with international business information. Interfax-Ukraine is an independent Ukrainian news agency that has been operating since 1992 and is headquartered in Kyiv.
Questions can be submitted through the specialized D&B resource — dnb.ua, by email at Urakin@interfax.kyiv.ua, or by phone at +38 (044) 270-65-74.
Verification of the beneficial owner helps Ukrainian companies establish who actually controls a foreign partner and reduce sanctions and reputational risks.
Before concluding an international transaction, it is not enough for a Ukrainian business to check only the name, address, and registration number of a foreign counterparty. A company may be part of a large corporate group, controlled through several legal entities, or have its ultimate owner in another jurisdiction.
Identifying the ultimate beneficial owner, or UBO, makes it possible to understand who actually controls the company and receives economic benefits from its activities. This is important for banking compliance, international payments, investment transactions, exports, imports, and cooperation with large corporate customers.
The formal owner indicated in the register is not always the final link in the structure. Between the operating company and an individual, there may be holding companies, foundations, trusts, nominee owners, or enterprises registered in several countries.
Dun & Bradstreet uses corporate relationships and ownership information to build company structures, identify parent companies and subsidiaries, and determine beneficial owners. Corporate ownership information can be used for KYC checks, sanctions screening, and third-party risk assessment.
“A company’s name and country of registration do not always provide a complete picture of who controls the business. Before a significant transaction, it is necessary to see the entire corporate structure — from the local legal entity to the parent company and the ultimate owners,” emphasized Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine, Head of the D&B-Interfax-Ukraine business unit, PhD in Economics.
According to him, particular attention should be paid to the ownership structure in cases where a counterparty has recently changed shareholders, is registered in a jurisdiction where access to corporate registers is complicated, or belongs to a group with a large number of related legal entities.
Verification of the beneficial owner helps answer several practical questions. A Ukrainian company needs to understand who controls its partner, whether this owner is connected with sanctioned persons, whether the declared structure corresponds to the actual business activities, and whether reputational or legal risks are hidden behind it.
At the same time, the mere fact of a complex corporate structure does not indicate a violation. International groups often have dozens or hundreds of enterprises in different countries. Risk arises when the structure remains opaque, contradicts the documents provided, or does not make it possible to establish actual control.
Ownership should preferably be checked not only before the first transaction. A change of shareholders, parent company, or ultimate beneficial owner may affect sanctions status, creditworthiness, and the ability to continue making payments through international banks.
Dun & Bradstreet is an international provider of business data and analytical solutions whose history began in 1841. The company provides tools for identifying legal entities, analyzing corporate relationships, identifying beneficial owners, checking counterparties, and conducting compliance procedures.
The official representative of Dun & Bradstreet in Ukraine is the Interfax-Ukraine News Agency. The D&B-Interfax-Ukraine division helps Ukrainian businesses obtain information about foreign companies, their owners, executives, and corporate relationships. Interfax-Ukraine has been operating since 1992 and produces more than 50 information products in Ukrainian, English, German, and Russian.
COMPANY VERIFICATION, COMPLIANCE, D&B, ULTIMATE BENEFICIAL OWNER
Foreign banks, buyers, and investors can check the legal details, owners, financial condition, and international business profile of a Ukrainian company in the international D&B database.
A Ukrainian entrepreneur may consider their company well-known and reliable; however, for a new foreign bank, buyer, investor, or procurement specialist, it remains a legal entity whose information needs to be verified.
The verification often begins even before the first meeting. A potential partner may search for the legal name, address, telephone number, date of establishment, status, type of activity, management, ownership structure, subsidiaries, and other corporate relationships.
Additionally, financial indicators, payment behavior, credit ratings, legally significant events, sanctions risks, and the consistency of information obtained directly from the company with independent sources may be analyzed.
The D-U-N-S Number is one of the keys through which foreign organizations can identify a legal entity and obtain related corporate information. Basic data may include the legal name, company type, address, telephone number, as well as information about branches or subsidiaries.
“Companies are accustomed to checking their partners, but they analyze far less often how they themselves look in the eyes of the international market. Managing one’s own business profile should become just as much a part of corporate hygiene as financial reporting, auditing, or the legal verification of documents,” says Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine, Head of the D&B-Interfax-Ukraine business unit, PhD in Economics.
The most common problem is not the presence of negative information, but discrepancies between different sources. For example, a contract may contain one English-language company name, an international database may contain another, while the website may show only a trademark without specifying the legal entity.
Such discrepancies do not necessarily indicate a violation, but they may delay the opening of an account, supplier approval, registration on a platform, investment due diligence, or the conclusion of a contract.
A Ukrainian company should regularly check its own international profile and update it after changes to its address, contact details, manager, name, or ownership structure.
It is also important to ensure that the official website, corporate email, banking documents, contracts, and international records contain consistent information.
D&B business credit reports can be used to assess creditworthiness, payment behavior, ownership structure, and legal events. Such data help creditors, suppliers, and other partners make decisions regarding the terms of cooperation.
Dun & Bradstreet is an international provider of business data and analytics that has been operating since 1841. The company’s data are used in finance, compliance, procurement, sales, marketing, and corporate information management.
The Interfax-Ukraine News Agency became the official representative of Dun & Bradstreet in the Ukrainian market after concluding a licensing agreement. The D&B-Interfax-Ukraine division helps companies obtain a D-U-N-S Number, verify their own data, and work with international business reports. Interfax-Ukraine has been operating since 1992, produces more than 50 information products, and is headquartered in Kyiv.
