Beneficial Ownership Amendments Understanding

The beneficial ownership requirements aforementioned were reviewed by the FATF. The FATF, along with being the global money laundering and terrorist financing "watchdog” also also coordinates coordinates global responses to prevent organized crime, corruption and terrorism. They found Jamaica's performance in relation to "beneficial ownership" to be lacking. Consequently, Jamaica was placed on FATF's “Grey List" and was consequently “black- listed" by the European Union.

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