EU to force firms to reveal true owners in wake of Panama Papers

Anti-corruption campaigners welcome move but criticise failure to include trusts in corporate ownership requirements

Companies across the EU will be forced to disclose their true owners under new legislation prompted by the release of the Panama Papers.

Anti-corruption campaigners applauded the agreement as a major step in the fight against tax evasion and money laundering, but expressed disappointment that trusts will mostly escape scrutiny.