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Beneficial Ownership Transparency: Slovakia Sets a Precedent for Global Reform
Slovakia’s efforts to reveal the true owners behind companies operating within its borders have set a powerful precedent for other nations, according to anti-corruption lawyer Andrej Leontiev. In an exclusive interview with Voices of Open Government, Leontiev reveals how his country’s national success in beneficial ownership transparency has become a model for global reform.
What is Beneficial Ownership Transparency?
Beneficial ownership disclosure is the process of revealing who ultimately controls or profits from a business, even if their names are not listed as owners. This crucial step is essential for combating corruption, preventing illicit financial flows, and fighting tax evasion. By shedding light on the true owners behind companies, governments can hold them accountable and prevent secretive operations.
The Importance of Beneficial Ownership Disclosure
- Combating corruption
- Preventing illicit financial flows
- Fighting tax evasion
- Promoting transparency and accountability in business operations
Slovakia’s National Success
Leontiev, an attorney with TaylorWessing, has been instrumental in pushing for beneficial ownership transparency in Slovakia. His work is part of a broader effort to promote open government practices globally.
The Global Impact of Beneficial Ownership Transparency
Beneficial ownership transparency has become an increasingly important policy tool globally, with many countries recognizing its value in combating corruption and promoting good governance. The Beneficial Ownership Leadership Group, established in 2019, is working to drive the global shift towards free and open beneficial ownership data.
The Voices of Open Government Podcast
The Voices of Open Government podcast offers a unique platform for leaders like Leontiev to share their experiences and insights on implementing open government practices globally. It provides a valuable resource for policymakers, practitioners, and anyone interested in promoting transparency and accountability in government operations.
Conclusion
In this episode, Leontiev’s conversation with Stephanie Bluma, Chief Communications and Campaigns Officer at the Open Government Partnership (OGP), offers a thought-provoking discussion on the importance of beneficial ownership transparency and its potential to shape global reform efforts.