Ownership is Everyone’s Business

04/20/2018
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It’s been over two years since the Panama Papers leak exposed the rampant use of anonymous shell companies to facilitate financial crimes, fraud and corruption. But what’s changed since then? We’ve seen many governments commit to ending anonymous companies. And they’re not alone; companies and investors have also been championing implementation of beneficial ownership transparency.

The reason for this business is simple; companies need to know who they are doing business with.

Our latest report, Ownership is Everyone’s Business—Private Sector Action on Company Ownership, showcases the growing demand from business for government action that can deliver more consistent access to high quality data on who owns and controls companies. It captures key insights from more than two years worth of dialogue with industry leaders on the need for this information and how best to implement it.  

While the report highlights the benefits of open data on company ownership, it also reflects on the challenges of quality and verification of globally connected data. Furthermore, it demonstrates how businesses and investors are addressing these challenges directly.

2018 marks a crucial year to accelerate this momentum as businesses look to the G20 to lead and implement the G20 High-Level Principles on Beneficial Ownership Transparency. The time is now for corporates to take a stand on the importance of accessible and open information on company ownership.

To find out how you can join us in sparking and taking action to end anonymous companies, contact Robin Hodess, Director, Governance & Transparency at rh@bteam.org.

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