News & Thoughts

26 – 03 – 2025

The effect of BO definition deviations in Norwegian legislation

A challenge that came with the new register, is that the Beneficial Owners definition deviates from the Norwegian Anti Money Laundering legislation. This inconsistency reduces the value of the Beneficial Owners register as an information source in the AML work for obliged entities. This article illustrates the effect of the deviations.

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27 – 02 – 2025

Beneficial Ownership – How difficult could it be?

There are several reasons why you, as an AML officer, can't rely entirely on the content of beneficial owners registers. Beside the obvious reason that the AML legislation require that you verify the information through independent sources, all beneficial owners registers depend on data reported by the companies themselves. These data may be intentionally or unintentionally incorrect.

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15 – 01 – 2025

Circular ownership and Beneficial Owners

Circular ownership makes it difficult and not intuitive to calculate who are the Beneficial Owners of a company. Circular ownership creates a difference between direct ownership and the integrated/indirect ownership, and this discrepancy makes it hard to understand who is actually a Beneficial Owner.

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01 – 12 – 2024

EU’s AML Single Rulebook and Beneficial Ownership

In this post, we present our views on the Beneficial Ownership definition found in the newly published Single Rulebook.

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