On 4th December, KYC 360 reported on businesses, banks and tax havens used by international crime gangs and fraudsters has been created by a family-owned company formation agent in the UK.  It says that leaked documents show links to businesses set up by Formations House, a London-based company that establishes and helps to manage companies, and scams involving more than £300 million – including vintage wine frauds, fake stock market tipsters, dodgy gold and diamond traders, overpriced land investment schemes and a Hollywood heist carried out by a bogus aristocrat.  Directors of at least 40 UK companies that it created have been disqualified after allegations of wrongdoing.  The head of the company is quoted as saying that, like all other formation agents in our industry, it had no control over the actions of companies and their directors after it has provided its formation service, and that the company carried out AML/CFT checks.

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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