All posts tagged "Shell Companies"
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611AML / 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 -
605AML / 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 -
2.5KAML / 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 -
312AML / 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 -
926FeatureHK 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 -
696AML / 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 -
388AML / 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 -
414Capital RegulationSingle Branch of Chinese Bank Fined $72mn for Hiding Bad Loans
Branch of Shanghai Pudong Development Bank admits fault for issuing more than more than $12bn to over 1,400 shell companies.
January 24, 2018
