FATF responds to Pandora Papers with new 'multi-pronged approach'

Mark Battersby
clock • 1 min read

The FATF has outlined what it calls a "multi-pronged approach" to collection of beneficial ownership information in a direct response to the Pandora Papers , after its latest plenary session which finished yesterday (21 October). Its consulation ranges across measures to prevent the abuse of bearer shares and nominee arrangements, the risk-based approach and access to accurate, adequate and up-to-date information on beneficial ownership by competent authorities. It specifically proposed that countries be required to assess the AML/CTF risks associated with foreign-created legal perso...

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