Beneficial Ownership in Focus, FinCEN vs EU Money Laundering Directive

14 Aug 2017
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14 Aug 2017
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Beneficial ownership came to the fore recently with two high profile leaks – the Bahamas and the Panama Papers leaks, which saw the leaking of financial information for hundreds of thousands of offshore entities. This, along with heightened anxieties arising from a number of high profile terrorist activities, has resulted in a significant shift towards increasing corporate transparency and weeding out shell companies in an attempt to bolster the defences against money laundering and terrorism financing.

In this paper, we deep-dive into the beneficial ownership requirements determined by FinCEN and the European Commission, and provide a comparison between the two regulatory frameworks.
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