Balancing transparency and privacy in the UBO register

Pursuant to the 4th EU Anti-Money Laundering Directive, all EU Member States must have a register for Ultimate Beneficial Owners (UBO), containing data on natural persons having control over more than 25% of the assets of a legal person or trust. In light of the new Open Data and PSI-Directive, the ILP Lab is partnering with the Open State Foundation to examine the parameters of disclosing data in the UBO-register as open data, whilst respecting the privacy, personal integrity and other legitimate interests (including potential security risks) of persons recorded in the register. The aim is to provide guidance to national governments on how to approach personal data protection and open data.