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11.14.2012


Jacopo Ponticelli
Michele Riccardi
Francesca Andrian
Chiara Ciurletti
Barbara Vettori

CBA-Study_Final_Report-COVER
ISBN code:
With the financial support of:
Citazione corretta:

Cost Benefit Analysis of Transparency Requirements in the Company/Corporate Field and Banking Sector Relevant for the Fight Against Money Laundering and Other Financial Crime

Bodies
Commissione Europea

Edited by
Ernesto U. Savona
Mario A. Maggioni
Barbara Vettori

The aims of the study were:

1. To analyse the cost-benefits from the introduction at the EU level of an up-front and ongoing disclosure system in the company/corporate field (from now on, MODEL 1) made up of the following five transparency requirements relevant for the fight against money laundering and other financial crime:

  • a statutory duty on the registered owner of a shareholding of 10% or more of the issued capital of a private or public unlisted company to confirm to the company their beneficial ownership of such shares or, if not, details of whom they believe the beneficial owner (BO) to be;
  • a statutory duty on beneficial but not registered owners of a shareholding of 10% or more to notify the company of such beneficial ownership and, for registered and beneficial owners of 10% or more, any changes in details as and when they occur;
  • a statutory duty on the company to file such data with a central registry within a short period;
  • the making such information available on-line to LEAs along with actual and historic data on company shareholders and their managers/directors;
  • making such data available to the public.

2. To highlight:

  • what EU measures may be appropriate to address those who aid and abet/facilitate corporate money laundering/terrorist financing arrangements, especially professional service providers, to contribute to more effective deterrence or (if not) suitable punishment, and
  • any issues and approaches revealed in the study likely to help improve the regulation of charities, trusts, associations and foundations with regard to AML and CFT.
Related project:

Identifying beneficial owners in the fight against money laundering

5
May
2019
Bruxelles

Prof. Ernesto Savona and Michele Riccardi take part to the 18th meeting of the EU Asset Recovery Offices’Platform.

Agenda
10
Apr
2018
Milan

At Università Cattolica in Milan, Transcrime hosts the kick-off meeting of the project DATACROS – Developing a Tool to Assess Corruption Risk factors in firms’ Ownership Structure funded by the European Commission DG-HOME.

6
December
2018
Rome

During the NATO Defense College Foundation on “Targeting the de-materialised ‘Caliphate’” prof. Savona gives a speech on “Terrorist funding: a lynchpin between extremism and armed operations”.

Agenda
30
November
2018
Bruxelles

Michele Riccardi takes part to the meeting of the working group of the “EU Money Laundering Supra-National Risk Assessment”.

27
November
2018
Bruxelles

Michele Riccardi takes part to the 7th Meeting of the Asset Management Subgroup of the EU Asset Recovery Office Platform.

29
October
2018
Sofia

Prof Ernesto Savona takes part in the “International Conference on Combatting Illicit Tobacco Trade and Related Crimes”.

26
October
2018
Rome

During the ALEA conference on gambling and criminal question, Prof Savona gives a speech on “L’influenza del mercato legale-illegale sui paradigmi della regolazione del gioco d’azzardo contemporaneo”.

Official agenda
18
October
2018
Vienna

During the conference of the Parties UNTOC, prof. Savona coordinates the side event on “Changing Organized Crime: lessons from EU project PROTON” sponsored by UNODC and Italian Mission at UN in Vienna.

13
October
2018
Perugia

During the Festival della Sociologia, prof. Savona coordinates a meeting on “Misurare i traffici illeciti: la sfida dell’Agenda delle Nazioni Unite per il 2030” with Federico Sallusti (ISTAT) and Alberto Aziani (Transcrime).

Official website
8
October
2018
Scandicci (FI)

At the Scuola Superiore della Magistratura, prof. Savona introduces the course “Giovanni Falcone” with a lesson on “Il reclutamento nelle organizzazioni criminali: una recente ricerca”.

Official website