Drilling Down to the Real Owners - Part 1: 'More than 25% of Ownership' & 'Unidentified' Beneficial Ownership: Amendments Needed in FATF's Recommendations and in EU's AML Directive
20 Pages Posted: 1 Apr 2017
Date Written: May 18, 2016
There are serious shortcomings in the international and European framework rules for companies' beneficial ownership identification, verification and policing of the system, the FATF’s (2012) 40 recommendations and the 4th EU Directive on anti-money laundering (2015) respectively. This paper proposes solutions and amendments to address these shortcomings.
Keywords: beneficial ownership, transparency, companies
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