A house built on sand
Paul Beckett stresses the need for beneficial ownership regulations to combat structures and technologies that may allow for avoidance
Key points
What is the issue?
Practitioners advising on and administering trusts and related structures must always be conscious of anti‑money laundering and counter‑financing of terrorism regulations.
What does it mean for me?
The way in which regulations are structured means that, in order to confirm source of wealth and source of funds, one must identify the ultimate beneficial owners. Beneficial ownership avoidance strategies globally are undermining one’s ability to do so.
What can I take away?
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