There are serious shortcomings in the international and European framework rules for trusts' beneficial ownership identification, verification and policing of the system, the FATF's (2012) 40 recommendations and the 4th EU Directive on anti-money laundering (2015) respectively. This paper...

This paper seeks to start a debate on the harms that trusts can inflict on societies (e.g. money laundering, corruption and tax evasion risks, potential to defraud creditors, avoid taxes, etc.), and what can be done about this. The paper takes a global perspective on the risks of secrecy, asset...