NorthRow: The Challenge of Beneficial Ownership – How to Unravel Complex Money Laundering Webs
Gina Clarke, 09 June 2021
Identifying Ultimate Beneficial Owners can be challenging for many regulated firms. Financial criminals are adept at obscuring the true identities of Beneficial Owners by using complex legal structures and shell companies to launder illicit funds. Cross border corruption and money laundering is happening on a much wider scale with fraudsters hiding behind complex corporate structures.
Greater transparency and public access for company registries is a key focus for both the UK and European Union (EU). However, the latest Transparency International report highlights the lack of availability and accessibility of beneficial ownership data in some EU countries. Continue reading “Article: NorthRow: The Challenge of Beneficial Ownership – How to Unravel Complex Money Laundering Webs”
