FATF Guidance


FATF Guidance

Transparency and beneficial ownership

Countries whose national laws do not contain provisions on trusts or which do not recognise trust or similar legal arrangements are not exempt from obtaining information on beneficial ownership of trusts

Executive Summary

On 27 October 2014, the Financial Action Task Force (FATF) adopted a Guidance on Transparency and Beneficial Ownership. FATF Guidances assist the interpretation of the FATF Recommendations, which set international standards against money laundering and terrorism financing (ML/TF). The Guidance aims at assisting policy makers and practitioners in national authorities in the implementation of FATF Recommendations 24 (Transparency and Beneficial Ownership of Legal Persons) and 25 (Transparency and Beneficial Ownership of Legal Arrangements). Corporate vehicles are used to conduct and facilitate business activities, but they can be misused to launder the profits of illicit activities. The misuse of corporate vehicles for illicit activities can be reduced and prevented if information on the underlying persons conducting the business is easily accessible by the competent authorities.

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Inside magazine issue 7, February 2015

Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.

Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).

PDF - 4.6mb
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