Beneficial Ownership
Beneficial Ownership
Beneficial ownership transparency (BOT) in regard to corporate entities is increasingly regarded as an essential element in the fight against corruption, as a tool for preventing money laundering (ML), and for countering the financing of terrorism and tax evasion. Numerous case studies have shown that corporate vehicles, including companies, trusts, foundations, and fictitious entities, can be misused to conceal the identities of the people involved in large-scale corruption and to hide and transfer the proceeds of crime. As a result, international efforts to prevent the misuse of corporate vehicles for financial crime have intensified.
Considering the risks that are identified as being associated with corporate vehicles in regard to concealing BO and to preventing their misuse for corruption, money laundering (ML), terrorist financing (TF), tax evasion, and other financial crimes, various initiatives have been taken at the international and regional level to ensure the BOT in respect of these entities. These initiatives require that countries put in place effective mechanisms and systems to ensure the availability and accessibility of adequate, accurate, and up-to-date information on the beneficial owners of corporate entities.
Our Key Experts are specialised in
Drafting, reviewing and advising on policies, laws and regulations regarding beneficial ownership.
Developing guidelines and roadmaps for establishing and maintaining beneficial ownership transparency.
Creating a guide for implementing beneficial ownership transparency.
Providing technical assistance based on an analysis of current guidelines, policies and regulations specific to each country.
Conducting workshops and training sessions for AML/CFT authorities to ensure transparency in beneficial ownership.