FATF LINKS NEED FOR NEW BENEFICIAL OWNERSHIP REFORMS TO PANDORA PAPERS LEAKS
October 2nd, 2021
The Financial Action Task Force (FATF) has unveiled plans to upgrade its recommendation 24 on transparency and beneficial ownership, stressing how the Pandora papers leaks confirmed the ML vulnerabilities posed by anonymous shell companies and other pro-secrecy arrangements. In its proposals, FATF wants all countries to ban the issue of bearer shares and establish a beneficial ownership registry, “or use an alternative system that also enables efficient access to beneficial ownership information by competent authorities”. (1)
The plans were released at ...
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