The Beneficial Ownership Transparency (BOT) Working Group seeks to foster dialogue and innovation and enhance collaboration among international organizations, think tanks, academic institutions, and development partners to advance the beneficial ownership reform agenda. A primary focus of the thematic working group is to advance evidence-based research on the effectiveness and impacts of beneficial ownership reforms and registers to inform policy design and dialogue.
Beneficial ownership reforms advance transparency of the natural persons who own or control companies by requiring their identification and disclosure of these beneficial owners to a public authority or body. Beneficial ownership transparency is crucial for many developmental and public policy objectives for example to combat corruption, money laundering, tax evasion, enhance accountability and trust in governance, increase transparency in public procurement, and promote a more transparent and competitive business environment.
The BOT Working Group, hosted by the Anticorruption for Development Global Program in the World Bank, with the support of the UK’s Foreign Commonwealth Development Office, aims to create a collaborative platform for experts and stakeholders to exchange knowledge, discuss new approaches and ideas, advance evidence based research to inform policy design, and discuss other innovations.
The Working Group is supported within the World Bank by a multidisciplinary Task Force with experts in Governance and Institutions, Financial Integrity and Anti-money Laundering, and Tax. Participants of the BOT working group include representatives of the Financial Action Task Force (FATF), the Organisation for Economic Co-operation and Development (OECD), the Extractive Industries Transparency Initiative (EITI), the United Nations Office on Drugs and Crime (UNODC), the International Monetary Fund (IMF), the Organized Crime and Corruption Reporting Project (OCCRP), Open Ownership, FACT Coalition, Tax Justice Network, the Foreign, Commonwealth and Development Office (FCDO), Ministry of Foreign Affairs of Denmark, NORAD, United States Department of State Bureau for International Narcotics and Law Enforcement Affairs (INL).