In the aftermath of the Panama Papers scandal and increased focus on shell companies and hidden ownership interests, US enforcement and regulatory agencies are increasing focus on beneficial ownership of related entities. In this era of aggressive enforcement, global companies have to integrate beneficial ownership requirements when conducting due diligence of business associates and when engaging customers in order to ensure full compliance with anti-corruption, sanctions and anti-money laundering requirements.
In this episode, Michael Volkov discusses the current environment and the need to identify beneficial owners. He reviews requirements for anti-corruption due diligence, sanctions and AML requirements.
Corruption Crime & Compliance