All posts tagged "Shell Companies"
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698AML / KYCPBOC Set to Establish Beneficial Ownership Register
Companies, partnerships, and branches of foreign companies will have until 1 March 2023 to file their beneficial ownership information.
January 4, 2022 -
860AML / KYCUK Court Hands Down Longest Ever Jail Terms for Money Laundering
A Russian and Lithuanian were sentenced to 16 and 17 years in prison, respectively, for laundering £70mn over four years.
January 3, 2022 -
531AML / KYCFinCEN to Tighten Rules on Beneficial Ownership, Real Estate Deals
The proposed rules are aimed at protecting the US financial system from money laundering enabled by shell companies and all-cash real estate deals.
December 9, 2021 -
183ChinaShanghai, Shenzhen Bourses Crack Down on Shell Companies
The new delisting system includes an indicator to measure the sustainability and operating ability of a listed company, to help eliminate shell companies.
December 4, 2021 -
429AML / KYCFATF Concludes Plenary, Finalises Work in Key Areas
The FATF will issue updated guidance for VASPs next week. A statement on Afghanistan was released. Beneficial ownership and cross-border payments also in focus.
October 23, 2021 -
593AML / KYCFATF Addresses Pandora Papers With New BO Requirements
The FATF proposes countries be required to assess the AML/CTF risks associated with foreign-created legal persons, and take steps to manage and mitigate them.
October 22, 2021 -
369AML / KYCMAS Examining Asiaciti Trust Revelations in Pandora Papers
The Pandora Papers show that Singapore firm Asiaciti Trust had helped politicians and public officials set up trusts and shell companies in secrecy jurisdictions.
October 6, 2021 -
596AML / KYCPandora Papers Expose Offshore Wealth of Public Officials
Some 35 current and former leaders are featured in the Pandora Papers leak, which contains 11.9 million documents from 14 offshore services firms.
October 5, 2021 -
807AML / KYCMAS to Deploy Information Sharing Platform for AML/CFT
The COSMIC platform will be developed and deployed in phases. The initial participants are DBS, OCBC, UOB, StanChart, Citibank and HSBC.
October 3, 2021 -
164ChinaPBOC Directs Banks to Support Housing Market
Banks are asked to refrain from cutting off funding to developers, continue supporting projects under construction, and approve mortgages for homebuyers.
October 1, 2021
