FACTSHEET: CORPORATE REGISTRY

19th April 2021

A STRONGER CORPORATE REGISTRY

Individuals can register a company without adequate due diligence checks, beneficial ownership disclosure, identification of potential links to politically exposed persons, or a robust assessment of their business activities and legitimacy, both in Australia and transnationally. This lack of transparency and verification makes it too easy for companies and directors with dubious reputations to hide, and any history of corruption, misconduct and crime, including money laundering, fraud, and embezzlement to not be checked.

A stronger corporate regulatory system requires greater transparency and proper due diligence checks into the integrity, character and track record of directors and entities and their operations in both Australia and abroad.