How Beneficial Owners Registers Aim To Curb Money Laundering And Tax Evasion – Government, Public Sector – Malta


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With more complicated company structures being used, it has
become increasingly more difficult to establish who the ultimate
beneficial owners of entities are. In light of the new regulation,
do you believe that the Ultimate Beneficial Ownership (UBO)
Register can help in any way to prevent financial crime?

The UBO Register system is a further step in the right direction
taken in light of the issuance of the 4th Anti-Money Laundering
Directive (4AMLD) back in 2015.

Even more so, the introduction of the UBO Register is also
important in light of the aftermath of several terrorist attacks
that have struck in the EU and also the revelation of the
“Panama Papers” scandal in 2016.

The UBO Register system seems to be directly aimed at helping
curb terrorist funding, money laundering and tax evasion.

The UBO registers should definitely help

... read more at: http://www.mondaq.com/x/784516/Money+Laundering/How+Beneficial+Owners+Registers+Aim+To+Curb+Money+Laundering+And+Tax+Evasion

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