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Role of Intermediaries in the Fight Against Money Laundering

Engaging with the Accountancy and Real Estate Sectors

Start date
November 2017

Recent scandals, such as the Panama Papers, have highlighted systemic weaknesses in AML facilitating abuse of the financial system on a massive scale with severe consequences for societies, businesses and citizens around the world.  Professionals such as accountants are at the fore front of the fight against money laundering playing an essential gatekeeping role in preventing, detecting and reporting suspicious activities.

Transparency International EU aims to engage with the private sector to improve the implementation and effectiveness of anti-money laundering (AML) standards and practices. The initiative will focus on two sectors: accountancy and real estate. The ultimate objective is to enhance the role of the sector in the detection, prevention and reporting of the laundering of stolen assets.

This objective is met by engaging with professionals from the accountancy sector. The engagement will be ensured through the setting up of a task force bringing together representatives of the profession and representatives of Transparency International, and its partner organisations. The initiative involves both sectoral players with regulatory as well as representatives of firms under customer due diligence and regulatory obligations. The first meeting of the initiative highlighted some of the challenges facing non-financial professions in tackling money-laundering risks in their sectors.


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Under the shell: Ending money laundering in Europe

This report assesses the national anti-money laundering framework in six European countries: Czech Republic, Italy, Luxembourg, the Netherlands, Portugal and Slovenia. It focuses on beneficial ownership transparency, a key aspect of the fight against money laundering and corporate secrecy.

New TI Netherlands report on beneficial ownership transparency

TI Netherlands just published a new report entitled ‘Behind The Scenes: Beneficial Ownership Transparency in the Netherlands’. The report demonstrates that the Netherlands has a relatively good understanding of general money laundering risks. However, risks related to ultimate beneficial owners (UBOs) have not yet been sufficiently addressed in neither regulation nor practice. The Netherlands’ score on UBO transparency is weak in international comparison. To meet the international standards for UBO transparency, an adjustment of Dutch regulation will not suffice. It will be necessary to conduct an integral, national risk analysis that concerns specific UBO issues, looks at related future risks and screens the effectiveness of the regulation in practice.


The William and Flora Hewlett Foundation

Want to know more? Get in touch

Laure Brillaud

Policy Officer – Anti-Money Laundering