Lifting the veil on beneficial ownership

What is it about?

A lack of beneficial ownership transparency facilitates money laundering by concealing corrupt wealth and frustrating authorities’ efforts to trace illicit finance. This study explores the challenges facing the UK in implementing registers of beneficial owners, as mandated by the EU AML Directive and provides novel insight into the moral, legal, and practical dilemmas to imposing AML control. It finds that implementing registers of beneficial owners may be a superficial approach to tackling the multifaceted problem of money laundering. Better intergovernmental cooperation is required to improve beneficial ownership transparency and to ensure measures to curb offshore money laundering are successful.

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