![](https://images.transparencycdn.org/images/2021_Report_Luxembourg_investment_funds_industry.jpg?auto=compress&fit=crop&&w=16)
In the dark: Who is behind Luxembourg’s 4.5 trillion-euro investment fund industry?
Publication •
Our investigation with the Anti-Corruption Data Collective has found investment funds in Luxembourg largely operate in an opaque manner.
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The issue of anonymous companies has risen in prominence on the global agenda. Yet, in 2015, our analysis of how well G20 members were implementing the G20 Beneficial Ownership Principles showed that 15 of the G20 members had weak or average beneficial ownership legal frameworks. This publication, G20 Leaders or Laggards?, updates that assessment.
Read the executive summary and the full report.
Country reports on G20 Beneficial Ownership Principles:
- USA
- Canada