Beneficial Ownership and Innovating Governance's role

Innovating Governance is among the signatories of the Strategic Partnership Memorandum, which foresees the creation of the Strategic Group, Laboratory on Beneficial Ownership, Kyiv, February 24, 2020.

The issue of ultimate beneficial owners has become increasingly important as it plays a central role in transparency, the integrity of the financial sector, and law enforcement efforts. Money laundering and corruption have been negatively impacting our societies throughout the past decades, while transparency of beneficial ownership will help ensure that the puppet masters and their associates and facilitators are not able to operate in secrecy and impede development.

Ukraine, thus, becomes a front runner in this field and all signatories of the Memorandum, shall establish a Transnational Electronic Laboratory on the development of a mechanism for verifying information on the ultimate beneficial owner.

Veronica Cretu, our Governance Lead, signed the Memorandum on behalf of our Association. We, at the IG, are looking forward to this ambitious and extremely important journey and commit to support the initiative in the most effective way possible.

Veronica Cretu's presentation during the Open Ownership event in Kyiv, March 2020