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The purpose of the FATF standards on transparency and beneficial ownership is to prevent the misuse of corporate vehicles for money laundering or terrorist financing. The Guidance covers:

  • An overview of how corporate vehicles can be misused and the challenges for countries in implementing measures to prevent such abuse
  • The definition of beneficial owner
  • Guidance to countries on effective mechanisms to combat the misuse of legal persons and legal arrangements
  • Guidance to countries on implementing measures to enhance the transparency of legal persons 
  • Guidance to countries on implementing measures to enhance the transparency of legal arrangements 
  • The relationship between standards on transparency and beneficial ownership 
  • Access to information by competent authorities, and
  • Guidance on international cooperation involving beneficial ownership information

It is intended to complement existing FATF guidance and other ongoing work by building upon the available research, including relevant FATF typologies reports, and the experiences of countries.