EC releases draft format for submitting BOI to central registers, providing a checklist of min. data requirements to standardise reporting, enhance transparency, and support AML efforts across the EU

The aim is to support harmonisation under the broader EU anti-money laundering (AML) framework, ensuring that BOI data (for companies, trusts and other legal arrangements) are recorded in a central register in a way that is machine-readable, usable and legally reliable. The formats would facilitate easier verification, automated checks, and help regulators, financial institutions and obliged entities efficiently…