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Beneficial Ownership Transparency of Legal Persons

Event Date & Time: Thursday 01 September 2022 from 15:00 hrs – 16:15 hrs

Venue: Virtual Workshop

The Financial Action task Force (‘FATF’) conducted a webinar on “Beneficial Ownership Transparency of Legal Persons” on Thursday 01 September 2022 at 15:00 p.m. – 16:15 p.m.

The primary goal of the webinar was to discuss on the FATF’s recent revision to Recommendation 24 on beneficial ownership of legal persons, aiming to help stop criminals from hiding their illicit activities and dirty money behind secret company structures.

Topics covered were as follows:

  • New FATF obligations on beneficial ownership (BO) transparency – objectives and rationale;
  • National experiences, challenges, and lessons-learnt in conducting collecting BO information and developing appropriate mitigation strategies; and
  • Role of private sector – what can be done further to enhance adequacy, accuracy and timeliness of BO information.

To access the video of the webinar, click here.