It is widely known that in the modern world entities are created to do business lawfully. Now it is convenient not only to active entrepreneurs, but to active violators of the law who successfully hide their antics in large corporations.
In different countries are increasingly progressing practice of money laundering, tax evasion and other financial crimes. As a result, the closed work of corporations often becomes a serious impediment to specially authorized bodies in establishing the identity of the financial criminal.
But today, the beneficiary (the real owners of corporations profiting directly) are hidden in offshore jurisdictions, trust funds and other structures that can help to limit the personal information.
Thomson Reuters news agency reports that the transparency of legal persons can be called a real challenge. Especially that caring about the confidentiality of the beneficiaries and attract investment, many countries have created favorable conditions for the prosperity of financial crimes. And then it will be very difficult to give up the familiar business management systems to help in the fight against economic crime (online legal advice on criminal law in the portal Lawyer.ua).
In general, there is the desire of different communities of the world to create an open business environment, since the detrimental effect of such privacy economies proved by many examples. Charities and other non-profit organizations that lead the anti-corruption activities talk about the need of transparent operation of corporations. Moreover, this theme continues to be widely discussed in the information space.
As soon as the company becomes aware of the seriousness of the problem, the fight against financial crimes becomes effective. For example, in the UK was quickly spread the news about the tax evasion of one street cafe. The news was the reason for the various discussions in the media, leaving people boycotted the services of the coffee shop, which later suffered from serious losses.
The precedent has shown that society can punish unscrupulous employers even without the intervention of government agencies. It is not necessary once again to list the number of financial crimes in Ukraine and the ineffectiveness of specially authorized bodies. Nevertheless, positive changes are depend on the level of legal awareness of citizens. As world practice shows, if the business does not follow the letter of the law, it’s motivated by society, and the results exceed expectations.
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