# Just for show? Reviewing G20 promises on beneficial ownership URL: https://www.transparency.org/en/publications/just-for-show-g20-promises Type: Publication or report Published: 2015-11-12 Updated: 2019-11-22 --- 12 November 2015 Major corruption scandals hitting the news often share key commonalities: the people at the centre of the scandal use a complex web of anonymous companies, trusts and other legal entities situated across multiple jurisdictions to transfer and hide their illicitly sourced funds. Perpetrators often use the services of professional middle-men and banks to move or conceal money and the funds often end up in the hands of other professionals, such as real estate agents or luxury goods providers, making the proceeds of corruption appear legitimate. In recent years commitments have been made at the highest level to tackle the misuse of these corporate vehicles and trusts, and to increase transparency around who ultimately owns, controls or is benefitting from them. At their Brisbane Summit in November 2014, the Group of 20 (G20) leaders adopted High-Level Principles on Beneficial Ownership Transparency, describing financial transparency as a “high priority” issue. The G20 principles build upon the Financial Action Task Force (FATF) recommendations, which set the current global standards for anti-money laundering. The FATF recommendations were strengthened in 2012, which means that some countries may still be in the process of strengthening their own frameworks accordingly. It is crucial that the G20 principles are now transposed into law and implemented effectively by member countries. In July 2015 Transparency International published a Technical Guide13 that outlines in detail how governments can ensure their legal framework is in line with each of the 10 G20 principles to more effectively tackle money laundering. The current report, Just for Show? Reviewing G20 Promises on Beneficial Ownership now assesses the extent to which G20 members are fulfilling their legal and regulatory commitments implicit in the G20 principles one year after their adoption. This baseline analysis identifies areas of strength and weakness in the current beneficial ownership transparency framework of each G20 member country so that progress can be monitored in the years to come. It draws on data collected from expert questionnaires focusing on the key components of each G20 principle. This report aims to encourage a conversation in each country on where laws can be improved to strengthen the beneficial ownership regulatory framework. Alongside this report we also publish individual summaries for each G20 member, which provide more detailed analysis on an individual basis. The combined findings should be used to help identify which concrete legal provisions should be adopted in order to adhere to the commitments within the G20 principles. Where they exist, Transparency International encourages competent authorities, such as tax and banking regulators, as well as law enforcement agencies, to ensure the strong legal basis is effectively enforced within these countries to close the tap on illicit financial flows to and from their jurisdiction. ## Additional downloads - [Download '2015 BO Country Report Argentina' \[PDF\]](https://files.transparencycdn.org/images/2015_BOCountryReport_Argentina.pdf) ### Related publications ## [Regional Assessment of Integrity in Political Finance in South Asia, Southeast Asia and East Asia](https://www.transparency.org/en/publications/integrity-political-finance-asia) Publication • 03 September 2026 This report reviews systems across 17 countries to identify the areas of political finance most in need of reform. ## [Connecting the Dots: How financial intelligence units expose corrupt money flows and how they could do more](https://www.transparency.org/en/publications/connecting-the-dots) Publication • 24 June 2026 Financial intelligence units can play a key role in uncovering corruption, but only if they have the powers, resources and access to information they need. ## [Whistleblowing Authorities in Europe: Roles, challenges and lessons learned](https://www.transparency.org/en/publications/whistleblowing-authorities-in-europe-roles-challenges-and-lessons-learned) Publication • 19 June 2026 This report examines the institutional design, mandates and functioning of national whistleblowing authorities across Europe. ## [Strengthening Public Oversight: Good practices for partnerships between civil society and supreme audit institutions](https://www.transparency.org/en/publications/strengthening-public-oversight-good-practices-for-partnerships-between-civil-society-and-supreme-audit-institutions) Publication • 29 May 2026 Stronger collaboration between Supreme Audit Institutions and Civil Society Organisations is needed for better public financial oversight. ![](https://images.transparencycdn.org/images/2015_G20BeneficialOwnershipPromises_EN_116.jpg?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/2015_G20BeneficialOwnershipPromises_EN.pdf)