Translation of the FATF Guidance for a Risk-Based Approach “Beneficial Ownership and Transparency of Legal Arrangements” has been published in the Media Library on the ITMCFM website.
This Guidance on Recommendation 25 complements the FATF's previous Guidance on improving transparency of legal entities. There is a great emphasis on the requirements for transparency of legal arrangements referring to express trusts and similar legal arrangements.
The Guidance is designed for all public and private sector stakeholders involved in the regulation, supervision, enforcement, formation, management and administration of trusts.
The Guidance addresses the specifics of trusts and related AML/CFT transparency obligations.
This Guidance complements the existing Guidance on Recommendation 24, which should be reviewed in parallel as they equally inform countries about approaches to implementing the FATF Beneficial Ownership Standards.
Translations of the FATF Guidances and Reports are published in the Media Library on the ITMCFM website.
