The EU mandate for the meeting of G20 finance ministers and central bank governors, on Monday, 3 April, mentioned that European Union countries will support the implementation of the revised G20 standards nbsp; Financial Action Task Force (FATF) concerning the transparency of beneficial owners.

The meeting of G20 finance ministers and central bank governors will take place from Wednesday 12 to Thursday 13 April in Washington. The EU Council document setting out the European position for the participating delegations obtained by EUROPE mentions that the EU wishes to “set an example in the fight against money laundering and terrorist financing”.

According to the document, Europeans want to “ensure effective and rapid international cooperation so that information on beneficial owners is shared between the competent authorities to prevent the cross-border abuse of legal persons and legal arrangements”. The same source mentions that the EU will support the financial inclusion of vulnerable and underserved people and SMEs, including through digital means.