beneficial ownership

Governments are failing to tackle international money laundering and tax fraud because police don’t have the tools to track down the owners of companies suspected of criminal activity, a new report by Transparency International claims.

Anonymous companies are regularly used by individuals in the US and around the world who seek to hide ill-gotten gains and avoid accountability. 

The UK Government is failing to act on fundamental gaps with its company register, leaving UK companies as a vehicle of choice for money launderers, the corrupt and other criminals, says Global Witness.

Twenty-four attorneys general from across America have called calling for an end to anonymous shell companies in the U.S.