abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

6 Dec 2016

Author:
B-Team, Deloitte, Thomson Reuters

Toolkit for companies shows how improving ownership transparency can benefit society & business

Transparent company ownership helps society and business to thrive. It’s impossible to tell who owns an anonymous shell company, but it’s entirely possible to put an end to them. Responsible businesses and investors are already taking action, joining the movement of government and citizens, to open up on exactly who owns, and controls all companies...When we don’t know who owns or controls a business it can be used to hide all manner of dodgy dealings and criminal behavior, from tax evasion, to bribery, to financing terrorism. Hiding company ownership enables the siphoning of money needed to support vital services like schools, roads and quality health-care for citizens, and raises the costs of doing business for everyone. But it doesn’t have to be like this. If businesses are transparent about ownership we can put a stop to them being used as vehicles for crime and corruption...Business leaders and companies are increasingly putting their support behind more transparent company ownership. Why? Because it makes good business sense, creates better markets and will help earn back eroded public trust...