COMPLEX OWNERSHIP STRUCTURES ARE THE CHOSEN TACTIC TO OBSCURE BENEFICIAL OWNERSHIP SAY FATF/EGMONT GROUP
July 1st, 2018
COMPLEX ownership structures are the most common system used by potential money launderers wanting to obscure the beneficial ownership of money and assets, says a new report.
In ‘Concealment of Beneficial Ownership’, the global AML agency FATF and the Egmont Group of FIUs assessed 106 case studies from 34 jurisdictions to reveal a wide range of techniques.
More than half the case studies used complex ownership systems, said the report, stressing that with such arrangements being not illegal per se, there are few restrictions on chains that span multiple ...
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