{"id":8676,"date":"2024-11-29T12:45:00","date_gmt":"2024-11-29T11:45:00","guid":{"rendered":"https:\/\/lei.net\/?p=8676"},"modified":"2025-01-22T13:06:17","modified_gmt":"2025-01-22T12:06:17","slug":"legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains","status":"publish","type":"post","link":"https:\/\/lei.net\/en-us\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/","title":{"rendered":"Legal Entity Identifier (LEI): The key to trust and security in global supply chains"},"content":{"rendered":"\n<p>Imagine this: You are a manufacturing company sourcing critical components from an international supplier. All the paperwork seems correct, and business is running smoothly &#8211; until suddenly, a fraud scandal comes to light, and your supplier disappears. The consequences? Massive losses that could have been avoided.<\/p>\n\n\n\n<p>This scenario may seem drastic, but it is true for many companies. With ever-more complex supply chains and increasing fraud cases, transparency is becoming a critical success factor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The challenge: global networks and hidden risks<\/strong><\/h2>\n\n\n\n<p>According to a  <strong><em><a href=\"https:\/\/kpmg.com\/de\/en\/home.html\">KPMG<\/a><\/em><\/strong>  study, 70% of companies consider their supply chains to be &#8216;very&#8217; or &#8216;extremely&#8217; complex. Tracking ownership structures is becoming an increasing challenge, especially in industries such as shipping, which transports goods worth over 32 trillion US dollars annually.<\/p>\n\n\n\n<p>Fraud, hidden owners or unclear responsibilities can lead to significant risks &#8211; risks that could be controlled with the right tools.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Legal Entity Identifier (LEI): Your solution for more transparency<\/strong><\/h2>\n\n\n\n<p>The Legal Entity Identifier (LEI) is a 20-digit identifier uniquely identifying companies worldwide. With this standardised identification number, you can quickly and reliably determine who is behind a company and who owns it.<\/p>\n\n\n\n<p><strong>An LEI offers you<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Clarity with business partners:<\/h3>\n\n\n\n<p>you can immediately recognise whether a company is legitimate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Global standards:<\/h3>\n\n\n\n<p>The LEI works like a universal passport for companies and is machine-readable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Security:<\/h3>\n\n\n\n<p>Reduce the risk of fraud and errors through transparent allocation.<\/p>\n\n\n\n<p>Whether in the financial world or the shipping industry &#8211; the LEI creates trust and simplifies complex processes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Practical example: How the LEI is revolutionising the shipping industry<\/strong><\/h2>\n\n\n\n<p>Shipping transports 80% of global goods, but tracking owners and goods remains a considerable challenge. Transparency is essential, as over 5,000 container ships move millions of containers every year.<\/p>\n\n\n\n<p><strong>The LEI brings ground-breaking benefits here:<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Unique tracking<\/h3>\n\n\n\n<p>Each container can be assigned to an LEI, facilitating traceability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Efficient processes:<\/h3>\n\n\n\n<p>Software systems with LEI integration optimise processes and reduce costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Strengthening trust:<\/h3>\n\n\n\n<p>Customers and partners always know who they are dealing with.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Your benefits with the LEI<\/strong><\/h2>\n\n\n\n<p>Studies show that companies can significantly reduce their operating costs by introducing the LEI:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cost savings:<\/h3>\n\n\n\n<p>banks save USD 2-4 billion annually through LEI use.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">More efficient onboarding:<\/h3>\n\n\n\n<p>The LEI replaces multiple identifiers and saves up to 10 % of costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Better prevention:<\/h3>\n\n\n\n<p>The LEI effectively helps combat fraud, money laundering and identity theft.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Simplify your processes &#8211; we support you in the process<\/strong><\/h2>\n\n\n\n<p>Whether you are registering, managing or renewing your LEI number, we ensure you stay on top of things. Our service offers you an uncomplicated solution so that you can concentrate on your business.<\/p>\n\n\n\n<p><strong><em><a href=\"https:\/\/lei.net\/registration\/\">Start now<\/a><\/em><\/strong>  &#8211; transparency begins with an LEI<\/p>\n\n\n\n<p>Don&#8217;t hesitate to take the first step towards security and trust. Contact us today and learn how easy obtaining your Legal Entity Identifier is.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Imagine this: You are a manufacturing company sourcing critical components from an international supplier. All the paperwork seems correct, and business is running smoothly &#8211; until suddenly, a fraud scandal comes to light, and your supplier disappears. The consequences? Massive losses that could have been avoided. This scenario may seem drastic, but it is true [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8676","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Legal Entity Identifier (LEI): The key to trust and security in global supply chains - LEI.net<\/title>\n<meta name=\"description\" content=\"Imagine this: You are a manufacturing company sourcing critical components from an international supplier. All the paperwork seems correct, and business\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lei.net\/en-us\/wp-json\/wp\/v2\/posts\/8676\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legal Entity Identifier (LEI): The key to trust and security in global supply chains - LEI.net\" \/>\n<meta property=\"og:description\" content=\"Imagine this: You are a manufacturing company sourcing critical components from an international supplier. All the paperwork seems correct, and business\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/\" \/>\n<meta property=\"og:site_name\" content=\"LEI.net\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-29T11:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-22T12:06:17+00:00\" \/>\n<meta name=\"author\" content=\"Sabine Schiefl\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sabine Schiefl\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/\"},\"author\":{\"name\":\"Sabine Schiefl\",\"@id\":\"https:\/\/lei.net\/#\/schema\/person\/3b9f4c9189a79ac0d2cdece6badcfe0e\"},\"headline\":\"Legal Entity Identifier (LEI): The key to trust and security in global supply chains\",\"datePublished\":\"2024-11-29T11:45:00+00:00\",\"dateModified\":\"2025-01-22T12:06:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/\"},\"wordCount\":471,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/lei.net\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/\",\"url\":\"https:\/\/lei.net\/is\/news\/legal-entity-identifier-lei-the-key-to-trust-and-security-in-global-supply-chains\/\",\"name\":\"Legal Entity Identifier (LEI): The key to trust and security in global supply chains - LEI.net\",\"isPartOf\":{\"@id\":\"https:\/\/lei.net\/#website\"},\"datePublished\":\"2024-11-29T11:45:00+00:00\",\"dateModified\":\"2025-01-22T12:06:17+00:00\",\"description\":\"Imagine this: You are a manufacturing company sourcing critical components from an international supplier. 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