All posts tagged "Shell Companies"
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358AML / KYCUS DOJ Unseals Indictment Against North Korea Money Launderers
The indictment names 28 North Korean and 5 Chinese nationals who were charged for operating a network of over 250 shell companies around the world to procure goods for North Korea.
June 3, 2020 -
439AML / KYCFinancial Secrecy Index Ranks Hong Kong, Singapore in Top Five
The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.
March 2, 2020 -
466AML / KYCNew Zealand Police Releases AML/CTF Assessment
NZ Police assessment identified trusts as attractive money laundering vehicles given government plans to exclude them from strengthened beneficial ownership disclosure regime
December 4, 2019 -
1.0KAML / KYCFATF Issues Best Practice Paper on Beneficial Ownership
FATF mutual evaluations have shown that many jurisdictions are still finding it challenging to ensure transparency of ownership of legal persons.
October 29, 2019 -
825AML / KYCSingapore Shell Companies Vulnerable to Money Laundering: MAS
While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.
August 14, 2019 -
2.8KAML / KYCMAS Renews Call for Use of Data Analytics in AML/CFT Programmes
MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.
April 9, 2019 -
361AML / KYCIndia Mulls Tracking for All Non-Cash Financial Transactions
India's central bank is looking to create a repository of all non-cash financial transactions to widen the government's crackdown on money laundering or shell company activities.
July 12, 2018 -
985FeatureHK Exchange Tightens Rules on Backdoor Listings, Shell Activities
Hong Kong stock exchange proposes tightening reverse takeover rules and continuing listing criteria to address concerns about backdoor listings through shell companies by firms that may not otherwise qualify.
July 4, 2018 -
875AML / KYCHong Kong Publishes First AML/CTF Risk Assessment
Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.
May 3, 2018 -
447AML / KYCNew Zealand: $970mn Laundered Each Year
Key facilitators for money laundering include shell companies and trusts, alternative banking platforms, trade based activities, real estate, casinos.
March 21, 2018
