TRANSPARENT COMPANY OWNERSHIP HELPS SOCIETY AND BUSINESS TO THRIVE
It’s impossible to tell who owns an anonymous shell company, but it’s entirely possible to put an end to them. Responsible businesses and investors are already taking action, joining the movement of government and citizens, to open up on exactly who owns, and controls all companies
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5% GDP
global cost of corruption -
3.8 billion
USD in recent fines -
10% cost
increase for business -
77 countries
are taking action -
91% of executives
want to know who owns companies
When we don’t know who owns or controls a business it can be used to hide all manner of dodgy dealings and criminal behavior, from tax evasion, to bribery, to financing terrorism. Hiding company ownership enables the siphoning of money needed to support vital services like schools, roads and quality health-care for citizens, and raises the costs of doing business for everyone. But it doesn’t have to be like this. If businesses are transparent about ownership we can put a stop to them being used as vehicles for crime and corruption.
Business leaders and investors are already taking action, and are seeing the benefits. Governments are increasingly acting to make sure that all companies disclose who owns or controls them. Knowing who controls a company reduces risk, by making it easier to know who you are dealing with, what your supplier risks are, and the true nature of your investments and investment partners. It makes markets more competitive and stable, ensures compliance and gives greater license to operate in communities.
For the benefit of society and business, it’s time to shed light on who owns every company.
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ACTION
Businesses and investors around the world are already taking action to increase transparent company ownership. Transparency offers enormous benefits, such as reducing risk and costs, ensuring compliance, attracting and retaining talent and helping companies succeed in new markets and regions. Join them. Learn more about making one of the six company commitments on ownership transparency below:
