Doha: The Ministry of Commerce and Industry (MOCI) organized a specialized training workshop titled 'Procedures for identifying the beneficial owner within the framework of due diligence measures,' with the participation of several trust fund service providers, companies, auditors, and precious metals and gemstone traders. According to Qatar News Agency, the workshop, held at the Ministry's headquarters, addressed topics related to the concept of due diligence, its procedures and levels, customer verification mechanisms, and the identification of the beneficial owner. These elements are crucial for enhancing compliance with anti-money laundering and counter-terrorism financing requirements. The session introduced the concept of the beneficial owner as per the Financial Action Task Force (FATF) standards. It also covered the provisions of Law No. (20) of 2019 on Combating Money Laundering and Terrorism Financing and its implementing regulations, along with the Decision of the Minister of Commerce and Industr y No. (48) of 2020, which promulgates the AML/CFT Compliance Rules for Auditors, Dealers in Precious Metals or Precious Stones, and Trust and Company Service Providers. Discussions during the workshop focused on the principles underlying the concept of the beneficial owner and the criteria for identifying them within due diligence frameworks. Additionally, it reviewed the fundamental principles of compliance and the penalties for not fulfilling obligations related to identifying and documenting the beneficial owner. Participants were presented with examples of indicators of suspicion related to beneficial owners, aiming to raise awareness and enhance their capabilities in the field.