## Unmasking Control: A Guide to Beneficial Ownership Transparency

_Books, October 7, 2022_

## Source details

**Canonical URL:** [Unmasking Control: A Guide to Beneficial Ownership Transparency](https://www.imf.org/en/publications/books/issues/2022/10/06/unmasking-control-a-guide-to-beneficial-ownership-transparency-517096)

## Other formats

- [Markdown version](/en/publications/books/issues/2022/10/06/unmasking-control-a-guide-to-beneficial-ownership-transparency-517096/index.md)
- [Structured JSON version](/en/publications/books/issues/2022/10/06/unmasking-control-a-guide-to-beneficial-ownership-transparency-517096/index.json)
- [Bundle manifest](/en/publications/books/issues/2022/10/06/unmasking-control-a-guide-to-beneficial-ownership-transparency-517096/bundle-manifest.json)

## Bibliographic details
- Published: October 7, 2022
- Series: Books
- DOI: https://doi.org/10.5089/9798400208041.071

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### Overview
- Purpose: A guide for practitioners, policymakers, and researchers to establish comprehensive frameworks for holding beneficial ownership information for anti-money laundering purposes.
- Central problem: Hidden beneficial owners enable abuse of companies and other legal entities for money laundering, terrorist financing, and many other crimes.
- Core consequences highlighted:
  - Misuse of entities to hide identities and criminal origins of assets.
  - Economic distortions that negatively impact economic growth.
  - Criminal infiltration and control of the legal economy.

### Key findings and impacts
- Hiding beneficial ownership information:
  - Facilitates money laundering.
  - Facilitates terrorist financing and proliferation financing.
  - Increases opportunities for corruption.
  - Hampers efforts against tax evasion and tackling illicit financial flows.
  - Undermines national security interests.
  - Weakens procurement transparency.
- The book frames lack of beneficial ownership information as a negative effect on countries’ economies and on the integrity of the financial and corporate sectors.

### Guidance for practitioners and policymakers
- The book:
  - Proposes questions to guide strategic thinking and discussion about establishing an effective system of beneficial ownership information.
  - Serves as a practical guide for establishing comprehensive beneficial ownership information frameworks.
- Intended audiences:
  - Practitioners, policymakers, and other researchers focused on AML/CFT and related areas.

### Subjects, keywords, and thematic focus
- Subject areas:
  - Anti-money laundering and combating the financing of terrorism (AML/CFT)
  - Central banks
  - Corruption
  - Crime
  - Financial crises
  - Money laundering
  - Proliferation financing
  - Terrorism financing
- Keywords preserved from source:
  - Anti-money laundering and combating the financing of terrorism (AML/CFT)
  - Beneficial ownership information beneficial owner (T)BO company trust legal entity legal person legal arrangement entity transparency company registry transparency of beneficial ownership information AML/CFT anti-money laundering combating the financing of terrorism International Monetary Fund Legal Department
  - Corruption, Global, government approach, government entity, government trade, Money laundering, ownership information, Proliferation financing, tax authorities, Terrorism financing

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_Source: https://www.imf.org/en/publications/books/issues/2022/10/06/unmasking-control-a-guide-to-beneficial-ownership-transparency-517096_