Episode 8 -- The Critical Importance of Beneficial Ownership to Compliance

Michael Volkov
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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 See more +
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. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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Michael Volkov
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