Within the framework of the Action against Economic Crime the Council of Europe organised a seminar on “Transparency of Beneficial Ownership” for obliged entities from the private sector, as well as all state authorities involved in combating money laundering and financing of terrorism. A Council of Europe expert based on previous discussions presented the tailor made guidelines for the private sector in “the former Yugoslav Republic of Macedonia” with the aim of increasing the transparency of beneficial ownership and understanding of ownership structure to the relevant authorities. Representatives from state authorities and obliged entities from the private sector were present at the seminar and welcomed the preparation of the document “GUIDELINES FOR THE PRIVATE SECTOR TO INCREASE BENEFICIAL OWNERSHIP TRANSPARENCY AND UNDERSTANDING OF OWNERSHIP STRUCTURE” under the Action against economic crime.