El deber de identificar al beneficiario final en las sociedades: Algunas dificultades relacionadas con el alcance, implementación y efectividad de esta nueva medida de prevención del lavado de activos y contra el financiamiento del terrorismo

Translated title of the contribution: The duty to identify the beneficial owner in companies: Some difficulties related to the scope, implementation and effectiveness of this new anti-money laundering and against terrorist financing measure

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Abstract

In 2017 the Financial Analysis Unit has issued Circular N° 57/2017, which establishes the duty, to various actors of the financial system, to identify the "beneficial owner". This measure seeks to determine who is (are) the natural person (s) who finally owns (n), directly or indirectly, through companies or other mechanisms, a share equal to or greater than 10% of the capital or the voting rights of a legal person, as well as those which, despite possessing directly or indirectly a participation of less than 10% of the capital or of the voting rights of a legal person, through societies or other mechanisms, exercise effective control in the decision-making process of the legal person. The adoption of this measure is considered essential to prevent money laundering and terrorism financing effectively. The aim of this paper is to analyze Circular N° 57/2017, in order to identify some barriers that its implementation can raise regarding the companies in our country within the framework of an effective money laundering and financing of terrorism prevention.

Translated title of the contributionThe duty to identify the beneficial owner in companies: Some difficulties related to the scope, implementation and effectiveness of this new anti-money laundering and against terrorist financing measure
Original languageSpanish
Pages (from-to)299-340
Number of pages42
JournalIus et Praxis
Volume25
Issue number2
DOIs
StatePublished - 2019
Externally publishedYes

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