Philrem and Werquick used local banks to wire funds for unidentified customers without identifying source of funds, the true beneficiary, or the purpose of the transactions.
September 24, 2020Chinese shell companies and individuals and their Indian associates, including bankers and accountants, were allegedly involved in hawala and money laundering transactions.
August 17, 2020The FATF calls for a coordinated response from public authorities, the private sector and civil society to identify and disrupt financial flows from illegal wildlife trade.
June 26, 2020The 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, 2020The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.
March 2, 2020NZ Police assessment identified trusts as attractive money laundering vehicles given government plans to exclude them from strengthened beneficial ownership disclosure regime
December 4, 2019FATF mutual evaluations have shown that many jurisdictions are still finding it challenging to ensure transparency of ownership of legal persons.
October 29, 2019While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.
August 14, 2019MAS 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, 2019India'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