Fragmented data systems fuel global financial crime despite existing records

A new global report highlights how fragmented data systems are undermining efforts to combat cross-border financial crime. Over 100 jurisdictions maintain beneficial ownership registers, yet poor connectivity between them limits their effectiveness. Interoperability is now seen as the key to improving detection and enforcement worldwide. The report finds that current ownership systems are mostly domestic. This makes it hard to trace ownership chains across multiple countries. Without interoperable systems, stakeholders struggle to identify links between entities or conduct thorough due diligence.

Anonymously owned companies often enable major corruption cases. While data to expose them exists in over 100 countries, the lack of connectivity prevents effective use. A roadmap has been proposed to address this, focusing on better access, common data standards, and machine-readable sharing.

Practical models for implementation include international search platforms, coordinated data exchange between authorities, and standardised national datasets. These steps aim to make ownership information accessible, standardised, and usable at scale across borders. Enabling interoperable ownership data will strengthen financial integrity and improve accountability in the public sector. It will also support more effective anti-corruption and enforcement efforts globally. The proposed measures are designed to turn fragmented data into a powerful tool against financial crime.