- Important progress has been made in promoting the establishment of public, centralised registers of beneficial ownership since 2016. The foremost example of this to date is the Fifth EU Directive on Anti-Money Laundering and Counter-terrorist Financing.
- However, implementation remains uneven. Uptake has generally lagged behind national and international policy commitments. Few fully public registers exist, with the majority concentrated in the EU.
- Emerging evidence shows that registers have important roles to play in assisting in the detection and prosecution of money laundering cases by enforcement agencies.
- In addition to ensuring implementation, further progress is needed in embedding verification elements into the design of registers and ensuring that regulatory arbitrage is avoided.