The project continues supporting the national authorities in their efforts to enhance beneficial ownership standards and measures. To complement the previous support related to the analysis of the national beneficial ownership legislative framework, 23 representatives of the law enforcement and other relevant state agencies were brought together to obtain further insights about beneficial ownership transparency.
The training also allowed to demonstrate how beneficial ownership information can assist in the investigation and prosecution of criminal cases. Practical examples were provided to explain potential schemes of criminal misuse of legal entities and legal arrangements. The importance of identifying Ultimate Beneficial Owners and the challenges faced, as well as the attribution of ultimate ownership to the natural person or the legal person were amongst the key aspects discussed during the training.
Furthermore, the training built an open platform for national stakeholders to jointly discuss how they can coordinate their efforts in enhancing measures to ensure systematic identification of the ultimate beneficial owners by using good practice approaches and lessons learned.
This training was organised within the framework of the project “Strengthening anti-money laundering and asset recovery in Azerbaijan”, funded by the European Union and the Council of Europe and implemented by the Council of Europe in their Partnership for Good Governance II.