Money Laundering, Terrorist Financing and Financial Crime
Monday, December 26, 2016
GERMANY'S NEW DRAFT LAW ON DISCLOSURE OF SHELL COMPANIES
One of the positive developments to have arisen out of the Panama Papers/Mossack Fonseca scandal is the introduction, in Germany, of a proposed law which will require German nationals to disclose all shell companies that that they have a beneficial interest in. Know unofficially as the "Panama law," the legislation could be the start of a global trend.
Readers who wish to review the complete text of the draft law can access it here.