Global Financial Integrity (GFI) presents a comprehensive regional analysis of the current state of beneficial ownership (BO) registries in Latin America and the Caribbean. This report examines the legal and institutional frameworks in 38 countries and jurisdictions, identifying key implementation gaps and offering concrete recommendations to strengthen transparency, integrity, and accountability across the region.
The report includes case studies on Belize and Colombia, two countries where GFI provides direct technical assistance to support the development and implementation of BO registries. These case studies offer practical insights into the opportunities and obstacles faced by governments in translating legal mandates into operational systems.
In addition to mapping legal frameworks, the report assesses the extent to which countries have implemented mechanisms for data verification, public access, and sanctions for non-compliance. It also explores the potential for integrating BO registries into public procurement systems, a step that could significantly enhance transparency in government contracting and reduce the risk of conflicts of interest.
Finally, the report explores how beneficial ownership transparency can serve broader public interest goals. By clarifying who ultimately controls companies and assets, BO registries can support efforts to prevent environmental crimes, human trafficking, and the misuse of public funds. The analysis underscores the importance of integrating BO data into enforcement and oversight systems to ensure it is not only collected, but actively used to detect and deter illicit activity.
GFI concludes the report with a set of actionable recommendations for governments, regulators, and civil society. These include strengthening legal mandates for centralized registries, ensuring interoperability with procurement and anti-corruption platforms, expanding coverage to include trusts and foreign entities, and establishing clear verification protocols and sanctions. The report also calls for greater regional cooperation and data standardization to promote cross-border transparency and accountability.