Members of the media are invited to a two-day conference on beneficial ownership transparency (BOT) in South Africa, taking place in Cape Town on 16 -17 May 2022. The event is hosted by the Department of Public Service and Administration, the Financial Intelligence Centre, Open Government Partnership, Corruption Watch, and Open Ownership.
The subject of BOT is considered one of the leading topics in the international agenda for financial reform, and is seen as a critical tool in fighting illicit financial flows related to corruption, money laundering and tax evasion. South Africa is no less vulnerable to the range of financial crimes and corruption that results from the opacity around who owns and controls corporate entities, and anonymous companies remain a major obstacle in the fight against these crimes.
Corrupt and criminal actors are able to hide behind chains of companies, some registered in multiple jurisdictions, and while corporate chains play an essential role in the global economy, conducting legitimate commercial and entrepreneurial activity, they have also been misused by criminals for illicit purposes.
Knowing the real human owners of companies – their ‘beneficial owners’ – is a vital building block in anti-corruption efforts.
South Africa is committed to upholding international standards such as the FATF, OGP and those established by the G20, in line with its goal to curb corruption. While promising in its progress, it requires further steps to ensure implementation of BOT and establish an effective legal framework.
A collective multi-stakeholder approach is key to addressing and making meaningful progress towards effective disclosure of high quality, usable BO data. This event provides a valuable opportunity to facilitate that process.
Join the discussions in-person or virtually. The event details are as follows:
Date: 16 – 17 May 2022
Venue: Southern Sun Cape Sun Hotel, Cape Town
Register here before Friday, 13 May.
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