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Honduras's transparency law is already in force, and the formal registration process for beneficial owners of accounts and entities will open in January, officials say, to strengthen legal certainty and transparency.

Honduras must improve transparency, anti-corruption controls, and institutional oversight to qualify again for funding from the US-backed Millennium Challenge Account, according to a governance expert who highlighted recent reforms in energy and beneficial-ownership disclosure as steps forward.

Congress unanimously approved the Transparency and Centralized Beneficial-Owner Registry Law, which aims to identify final beneficiaries of legal entities and structures to combat money laundering, terrorism financing, corruption, and organized crime.