Which FATF recommendation requires countries to ensure that legal persons (companies) maintain accurate and up-to-date information on their beneficial owners, and that this information is accessible to competent authorities?
- Recommendation 24
- Recommendation 25
- Recommendation 26
- Recommendation 27
Answer: Recommendation 24
Rec. 24 targets opacity in corporate structures that criminals exploit. Beneficial ownership transparency enables authorities to 'follow the money', identify controllers behind shell companies, and disrupt money laundering, terrorist financing, corruption, and tax evasion schemes.