LATEST: What the new EU financial crime measures mean for Beneficial Ownership and Registers - AML Intelligence
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LATEST: What the new EU financial crime measures mean for Beneficial Ownership and Registers

By Elizabeth Hearst

First introduced in the fourth money laundering directive, beneficial ownership continues to be a contentious issue in the bloc.

A beneficial owner is “any natural person who ultimately owns or controls a legal entity, a trust or similar legal arrangement”, and was introduced to improve transparency in “complex corporate structures” in EU Member States.

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