Understanding Beneficial Ownership and Legal Arrangements for Combatting Money Laundering

Aug 3, 2021

The goal of this assessment report is to be a guide for the private sector in Kosovo of the concept of bene­ficial ownership, the importance of bene­ficial ownership transparency, relevant international standards, case studies related to money laundering involving corruption, fraud, tax evasion, cryptocurrency, and recommendations on how to help mitigate these risks. The report is based on relevant guidelines and publications issued by the Financial Action Task Force (“FATF”) and other international organizations as well as real life examples from both the private and public sectors. It is our hope that this publication will serve as a valuable tool for proactively combating complex ­financial maneuvers used to hide illicit proceeds from corruption and other offenses, and ultimately return that money to public funds.

The UNDP Support to Anti-corruption Eforts in Kosovo (SAEK) III project works closely with the public and private sector to build Public Private Partnerships that contribute to better detection and prevention of ­financial crime. It is our hope that this publication will serve as a valuable tool for proactively combating complex fi­nancial maneuvers used to hide illicit proceeds from corruption and other offenses, and ultimately return that money to public funds. We wish to thank our partners and donors, the Swiss Development Cooperation office in Kosovo, and SIDA through the Swedish Embassy in Kosovo, for their support to UNDP’s SAEK III project.

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