Moving forward on beneficial ownership - UNODC

On 14-15 April 2025 UNODC will be hosting and leading expert meetings on beneficial ownership issues in Vienna. As the UN noted, “Transparency of beneficial ownership information is a critical policy tool in combating corruption and illicit financial flows. Individuals and entities often employ schemes that obscure beneficial ownership to conceal the proceeds of corruption, frequently spanning multiple jurisdictions.”  This meeting will allow for a more uniform view and approach worldwide and  would be very important for all jurisdictions dealing with money laundering and questions regarding ownership of all type of assets.

 In many developed jurisdictions beneficial ownership is masked, creating opaque transactions. A beneficial ownership registry in the developed jurisdictions would be key, but unfortunately in these countries, there has been disinterest in such registries.

This meeting is important, but the work that needs to happen is at the national level. Mainly at the jurisdictions where money lands as well as jurisdictions of the origins of the funds. And presently where the money ends up being used, the countries that benefit from these transactions are not yet interested in finding out who might be the beneficial owners of the property and/or the money. Then the next step would be enforcement and that is also very difficult. Again, explaining and publicizing the gaps and pointing out the damage that occurs is essential to moving forward.

But, as we know, this requires significant political will and meetings such as the one which will take place is such a step forward.

Link:

https://www.unodc.org/corruption/en/uncac/expert-meetings/vienna-intergovernmental-meeting-2025.html