Civil Society Advancing Beneficial Ownership Transparency (CSABOT) is a project that implements the “Preparatory action – Capacity building programmatic development and communication in the context of the fight against money laundering and financial crimes”. This project is performed by Transparency International Secretariat (TI-S), together with Tax Justice Network (TJN), Transcrime – Università Cattolica del Sacro Cuore (Transcrime – UCSC) and the Government Transparency Institute (GTI), under a contract with the European Union represented by the European Commission. The opinions expressed are those of the contractors only and do not present an official view of the European Commission.
Money laundering and terrorism financing (ML/TF) pose a serious threat to the integrity of the EU economy and financial system and to the security of its citizens. Legal entities and arrangements may be misused by criminals to disguise the proceeds of crime as legitimate, often through complex structures and networks, which hide the beneficial owners.
Beneficial ownership transparency is an important tool to prevent and mitigate the risk of misuse of legal entities and arrangements and the EU’s set of rules relating to beneficial ownership transparency are a key factor in tracing criminals who might otherwise be able to hide their identity behind opaque structures.