Drilling Down to the Real Owners – Part 2. Don't Forget the Trust: Amendments Needed in FATF's Recommendations and in EU's AML Directive
40 Pages Posted: 1 Apr 2017
Date Written: June 18, 2016
Abstract
There are serious shortcomings in the international and European framework rules for trusts' 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: trust law, beneficial ownership, AML
Suggested Citation: Suggested Citation
Knobel, Andres and Meinzer, Markus, Drilling Down to the Real Owners – Part 2. Don't Forget the Trust: Amendments Needed in FATF's Recommendations and in EU's AML Directive (June 18, 2016). Available at SSRN: https://ssrn.com/abstract=2943973 or http://dx.doi.org/10.2139/ssrn.2943973
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