How to Identify Beneficial Ownership in a Not-so-transparent World

Beneficial ownership transparency is in the spotlight, and many compliance experts believe 2017 was a turning point in achieving greater transparency at a global scale, especially in preventing tax evasion and corruption. Recent regulatory efforts of government and international agencies, such as the US FinCEN CDD final rule and the G20 Anti-Corruption Action Plan, have been aimed squarely at strengthening beneficial ownership transparency rules. The ultimate goal is not just to be compliant with the minimum regulatory requirements, but to prevent the business from significant risks.