Access to Domestic Law Enforcement
We commit to employ all available means to meet the FATF standards on beneficial ownership that may include law enforcement agencies have full and effective access to beneficial ownership information for companies and other legal entities
Country: South Korea
Themes: Beneficial ownership
Last updated: October 2018
Concrete: Concrete | New: New | Ambitious: Not Ambitious
TI G20 leaders or Laggards
October 2018 update: It is now required in South Korea for financial institutions to identify the beneficial ownership of customers. And in this report from TI-S, on page 41 it shows their G20 score on transparency of financial institutions has increased from 31% in 2015 to 50% in 2017. There does seem to be a lot of gaps though, as overall in the G20 beneficial ownership report, South Korea is deemed as having a ‘weak framework’.