Submissions on register of offshore trusts urge confidentiality

Department of Finance has been approached by 19 owners

Department of Finance Pic: RollingNews.ie

Almost half of the submissions to the Department of Finance on a proposal for a public register of those who control shell companies urged the government to prevent widespread access to it. The department received 19 submissions on the so-called fourth European Union anti-money laundering directive.

It would require the state to disclose who are the beneficial owners of trusts, similar to those at the heart of the massive Panama papers leaks.

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