The Financial Action Task Force (FATF) has published an update following a meeting with the G20 Anti-Corruption Working Group. The update notes that there was an in-depth exchange of countries’ experience with implementation of the international standards on beneficial ownership in practice, for anti-money laundering / counter-terrorist financing (AML/CFT) and anti-corruption purposes, including the lessons they have learned about the practical challenges for implementation and ways to overcome them.  Participants discussed measures to ensure the accuracy, quality and timely access of beneficial ownership information collected at both domestic and international levels, including national experiences of establishing central registries, and how the information is being used to enhance AML/CFT and anti-corruption efforts while balancing transparency and data protection.

View Joint G20 ACWG-FATF Experts Meeting on Corruption, 17 October 2016

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