Latvia embeds beneficial ownership (BO) disclosure into company registration and uses risk-based verification
Latvia embeds BO disclosure directly into company registration – the system automatically rejects applications without complete information, and requires reconfirmation at each subsequent change. This design makes non-disclosure technically impossible, offering a model for compliance-by-design in BO registers. It also uses risk-based internal controls to integrate additional checks, referring suspicious activity to the financial intelligence unit.
- Year published
- Show records from 2023
- Jurisdiction
- Show records from Latvia
- Type of resource
- Show records of type Private sector