Regulators across multiple jurisdictions are demanding additional disclosure when it comes to customer due diligence for anti-money laundering or counter terrorist financing purposes, points out Baker McKenzie in its latest client alert note. Following multiple global data-leak incidents, including Panama Papers, the Russian Laundromat scheme and, most recently, Paradise Papers, watchdogs are requesting more transparency when it comes to the beneficial ownership of…
Financial regulators aligned on need for greater disclosure following data leaks
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