Scope of definition of beneficial owner in the European Union anti money laundering directives and Latvian national laws

Abstract

This thesis researches reviews the problem that has been defined in the following way “What are the neccesary requirements for a person to be identified as the Beneficial Owner within the scope of Anti Money Laundering Legislation at the European Union legal norms level and in national laws of Latvia”. The author has put forward an aim of identification of the characteristics that the natural person has to bear in order to be identified as the beneficial owner under the European Union Anti Money Laundering Directives and Latvian AML legislation. The objectives of the research are: study the introduction of the term beneficial owner and its following development within the European Union Anti Money Laundering Legislation; research the implementation of the European Union definition within the scope of Latvian national Anti Money Laundering legislation; identify the specifics of the process of identification of beneficial owner depending on the legal form of business in the Latvian national laws