LUXEMBOURG COMPANY REGISTER SCRAPE REVEALS CRIMINAL, DEAD AND CHILD OWNERS
February 1st, 2021
The latest probe by the Organized Crime and Corruption Reporting Project (OCCRP) into publicly accessible data held on Luxembourg’s ultimate beneficial ownership (UBO) register – ‘OpenLux’ [1] – has alleged gaps in European Union (EU) requirements as well as the Grand Duchy’s own UBO provisions. The investigative journalism consortium alleges that 48% of companies within the register of this key European financial centre have failed to log UBOs. In a statement following the release of the article, the Luxembourg government contested this allegation, ...
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