Beneficial ownership reform in Western Balkans focus of OSCE-supported workshop

Beneficial ownership information is one of the most important tools in combating corruption, enhancing transparency, and strengthening accountability. On 22 October 2021, the OSCE, the Open Government Partnership (OGP) and the German Corporation for International Cooperation (GIZ) held a virtual workshop focused on strengthening mechanisms to enhance beneficial ownership transparency and ensuring that beneficial ownership data in South-Eastern Europe is accurate, reliable and up to date.

Representatives from government agencies, civil society organizations, and the private sector discussed best practices in the verification of data used in beneficial ownership registries.

Data accuracy is key to effective and efficient mechanisms for beneficial ownership, which can be achieved through the planning and implementation of strong verification systems. The focus of the workshop was on good practices on the verification of beneficial owners data, including the use of a multi-stakeholder approach to the reform.

Participants at the workshop learned from good practices on the establishment of verification mechanisms for beneficial ownership information and strategies to engage civil society organizations and other actors in data verification. The discussion also included how to overcome challenges in establishing proper mechanisms.

This workshop is part of a series of activities on beneficial ownership held by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA), OGP, and GIZ.

The workshop was held in the framework of the extra-budgetary project "Promoting good governance and a positive business climate in the OSCE region through digitalization and the use of open data", funded by the United States of America.