Organizations worldwide are grappling with the increasing cost of complying with anti-money laundering (AML) regulations. The introduction of Beneficial Ownership Information (BOI) reporting is central to this compliance environment. However, knowledge of the importance of BOI reporting will empower organizations to fight against financial crime and focus on compliance accordingly. This blog will discuss why BOI reporting is a key aspect of AML compliance and how it helps organizations by increasing transparency, mitigating risk, and ensuring compliance with regulatory requirements.