The project is a feasibility study aimed at assessing what is necessary to develop an intelligent system able to search and integrate information on the beneficial owner of legal entities in order to prevent and combat money laundering and other financial crimes.
The project will benefit many stakeholders at EU and international levels: Financial Intelligence Units, Asset Recovery Offices, Law Enforcement Agencies specialized in the fight against financial crime but also credit institutions, legal professions and other intermediaries subject to Directive 2005/60/EC (Third AML Directive).
The project is developed by a consortium led by Transcrime – Joint Research Centre on Transnational Crime (Italy). The five other partners are: EBR – European Business Register (Belgium), Direction V (Anti Financial Crime) of the Ministry of Economy and Finance (Italy), FIU Denmark / SAOEK – State Prosecutor for serious Economic Crime (Denmark), UniCredit S.p.A. (Italy) and PricewaterhouseCoopers S.p.A. (Italy).
Project Bownet lasts 20 months: it has started on 24th March and will finish on 21st November 2012.
Link for the details on the project: here