The Financial Monitoring Service (FMS) recently conducted a training session for notaries focused on identifying beneficial ownership.

The session addressed the key challenges in determining beneficial ownership and explored contemporary approaches to tackling these issues. A major focus was on the methods used to conceal beneficial ownership through the use of multiple identities and the innovative strategies being implemented to counter such practices.

Participants were introduced to international best practices and legal frameworks for monitoring beneficial ownership, ensuring compliance with global standards. The training aimed to enhance the ability of notaries to transparently identify beneficial ownership and detect potential risks at an early stage.

The training, which was attended by 80 notaries, concluded with a lively Q&A session, allowing for further discussion and clarification of key topics.