

In 2017, 4MLD introduced a focus on ultimate beneficial ownership (UBO) for the purposes of risk mitigation and money laundering prevention. 5MLD builds on those steps, introducing the following measures:
The requirement to register beneficial ownership and have that information publicly available is as Head of Financial Crime, at ComplyAdvantage, Livia Benisty said, “a vital first step in detecting some of the vast flows of illicit funds transmitted through the financial system, and places a handicap on the preferred instrument of money launderers globally.”
ComplyAdvantage’s data and solutions can be used across financial services to make sure business meet and exceed regulatory expectations.
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