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transcrime@unicatt.it

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Identifying beneficial owners in the fight against money laundering

Matriosca

Criminals and organised crime groups may hide behind companies registered in different countries and connected through complex “Chinese boxes” schemes, often used as shells to carry out frauds, evade taxes or launder illicit funds. Identifying the beneficial owners that are concealing behind these corporate entities is not only a crucial activity in the fight against financial crime, but also one of the most challenging tasks that law enforcement agencies (LEAs) have to face.

In this field the research of Transcrime has primarily focused on identifying what data and information is available, among databases and business registers, on the ownership structure and the beneficial owners of European companies. The analysis has been carried out within the EU project BOWNET (www.bownet.eu) and the results are available in the final report of the project.

Now Transcrime is developing, within project EBOCS (www.ebocs.eu) and in cooperation with EBR (www.ebr.org), major European company registers, financial intelligence units (FIUs), major financial institutions and software houses, a search engine able to provide a quick and unified access to all the data on the ownership structure of companies (shareholders, beneficial owners, administrators, managers) registered in various EU business registers.

The software will constitute a valid instrument at the disposal of FIUs, LEAs, financial institutions and other intermediaries subject to customer due diligence obligations. Moreover, making it more rapid and effective the identification of who ultimately controls companies, it will represent a crucial step in order to improve the transparency of European financial markets.

Related contents

Projects

Transcrime publications

External publications

Riccardi M. (2013), “L’identificazione del titolare effettivo nella lotta al riciclaggio: problemi attuali e prospettive future”, Il Commercialista Veneto, Numero 213 – Maggio/Giugno 2013, p.5.

Events

15
May
2020
Milan

(Webinar) RICICLAGGIO E INFILTRAZIONI DELLA CRIMINALITÀ ORGANIZZATA: RIPARTIRE CON NUOVI INDICATORI DI RISCHIO – Michele Riccardi together with other experts talks about the new risk scenarios generated by COVID19.

Agenda
6
May
2020
Milan

DATACROS MID-TERM MEETING – Michele Riccardi and Antonio Bosisio discuss with partners the first results of DATACROS project.

27
March
2020
Cardiff

DATA SCIENCE FOR POLICING, SECURITY AND PUBLIC SAFETY – Marco Dugato discusses the main existing approaches to crime forecasting at Cardiff University.

18
March
2020
Brussels

THE NEED FOR AN EU PLAN TO END THE VICIOUS CYCLE OF GRAND CORRUPTION – Prof. Ernesto Savona discusses about the EU needs to rethink its overall approach to asset recovery at the event organized by Transparency International EU.

Agenda
19
February
2020
Brussels

EUROPEAN CRIME PREVENTION CONFERENCE (EUCPN) – Prof. Francesco Calderoni presents the final results of European project Proton.

Agenda
12
February
2020
Rome

TRAIN THE TRAINERS – Thomas Joyce talks about the value of radicalisation monitoring and the use of possible indicators allowing an early detection of radicalization phenomenon at the Department of Penitentiary Administration.

7
February
2020
L'Aia

COOPERATION BETWEEN EUROPOL, ACADEMIA AND RESEARCH EXPERTS – Prof. Savona participates in the roundtable ‘Cooperation between Europol, Academia and Research Experts’.

28
January
2020
Rome

TRAin TRAINING FINAL CONFERENCE – Prof. Savona discusses the European future of tools for monitoring radicalization processes in prison.

Agenda
21
January
2020
Nassau

EMPIRICAL AML RESEARCH CONFERENCE – Michele Riccardi discusses how to assess the risk of illicit financial flows through the analysis of cross border ownership links of European businesses.

Agenda
11
December
2019
Helsinki

EUCPN Board Meeting – Prof. Francesco Calderoni presents the final results of European project Proton.