Sucheta Mondal, Maharashtra National Law University, Aurangabad
ABSTRACT
Lack of corporate transparency is one of the main barriers to tracking down an recovering illicit proceeds from corruption, as investigators often need to uncover who controls a company or benefits from the ownership of an asset during corruption investigations. Implementing an effective beneficial ownership disclosure regime is increasingly seen as an essential policy tool in the fight against corruption and for preventing money laundering, countering the financing of terrorism, and tax evasion.1 This paper deals with various aspects of the beneficial ownership and how it has been used over the years by the companies to safeguard their malpractices and also tries to examine how the existing regulatory framework can successfully decrease such malpractices bythe companies.
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