Here is the article in markdown format with proper headings, subheadings, and bullet points:
Fighting Corruption through Beneficial Ownership Registers
Transparency International Slovakia, a non-governmental organization dedicated to promoting transparency and fighting corruption, has released a document highlighting the importance of beneficial ownership registers. In this article, we will explore the key points from the document and discuss the effectiveness of such registers in combating corruption.
Measuring the Impact of Beneficial Ownership Registers
It is challenging to measure the effectiveness of beneficial ownership registers, as verifying the information provided can be difficult. However, there are several steps that can be taken to make these registers more effective:
- Make the register public: Limiting access to the register undermines its usefulness and makes it harder for journalists, researchers, and law enforcement agencies to access the information they need.
- Make it easy to use: The more people who use the data, the more pressure there is on transparency. A user-friendly interface can make it easier for others to access and utilize the data.
- Don’t make verification too costly: Verification costs can easily skyrocket, making it harder for individuals or organizations to verify information. This can lead to a lack of trust in the register and its effectiveness.
- Measure the impact: Look at how the register data are used in media, police investigations, and other areas to assess its effectiveness.
- Promote introduction of registers abroad: The more registers that exist, the more likely it is that one can get a complete picture of ownership.
Viewing Beneficial Ownership Registers Realistically
Beneficial ownership registers are not a silver bullet for eradicating corruption. They are just an additional hurdle to make corruption transactions more difficult. However, they can be an effective tool in combating corruption when implemented correctly.
Some specific issues that beneficial ownership registers can help address include:
- Companies using offshore destinations: Some companies use offshore destinations to hide their true beneficiaries and avoid taxes.
- Transfer pricing: Companies may use disadvantageous supplier contracts (transfer pricing) to siphon off profits and hide the true beneficiary.
- Slovak case: In Slovakia, verification costs have skyrocketed, making it harder for others to verify information.
What You Can Do
If you are concerned about corruption and want to support efforts to combat it, there are several actions you can take:
- Join our efforts: Support Transparency International Slovakia financially or otherwise by joining their membership program.
- Donate: Donate to support their activities and help them continue to promote transparency and fight corruption.
- Get in touch: Contact them for more information on how you can get involved and make a difference.
By working together, we can create a more transparent and accountable society where corruption is not tolerated.