Late last month, Karin Keller-Sutter, Switzerland's Finance Minister, unveiled a package of reforms aimed at combatting money laundering and enhancing transparency as the country seeks to shed its reputation as a hub for the movement and concealment of illicit funds.
The reforms would require "beneficial owners" of trusts and companies to be declared as such, both in order to increase transparency and to close legal loopholes. Notably, Switzerland is currently the only European nation lacking a national register of beneficial ownership.
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