During March 2023, the Financial Action Task Force (FATF) updated the previous guidance and recommendations on the identification of beneficial owners. This intervention follows a study published by the National Council of Notaries and provides additional information on handling regulatory data, often lacking or otherwise fraught with interpretative uncertainties.
This twofold intervention, both at the national and supranational levels, is an opportunity to provide a general overview of legislation applicable to the so-called “beneficial owner” and the criteria for identifying the beneficial owner, providing some useful guidance on navigating through the applicable legislation.
