1. A global framework for tracing Beneficial Ownership
- Author:
- K N Vaidyanathan and Akshay Mathur
- Publication Date:
- 01-2018
- Content Type:
- Special Report
- Institution:
- Gateway House: Indian Council on Global Relations
- Abstract:
- The cross-border flow of payments, remittances, aid and investments is integral for globalisation. Ensuring transparency in such cross-border financial transactions is critical for the stability of the global financial system. A key goal for policy-makers has been the necessity to identify beneficial ownership in multi-country financial transactions to protect against money laundering, terrorist financing and tax evasion, which have besieged developed and developing countries alike. Existing global efforts on tracing Beneficial Ownership are insufficient since verification is limited to self-disclosures and by national regulations. What is needed is a global framework to enable data exchange, cross-referencing, tracing and analysis of data on crossborder financial transactions.
- Topic:
- International Relations and International Affairs
- Political Geography:
- Global Focus