FORMER MICRONESIA OFFICIAL ALLEGEDLY AIDED FAKE VESSEL REGISTRATION AND MONEY LAUNDERING SCHEME

In its April Financial Crime Digest, Asperio reported that the Federated States of Micronesia (FSM) has announced criminal charges against 4 individuals who allegedly conspired from 2015 to falsely register foreign ships as FSM vessels through the bogus Micronesia International Ship Registry (MISR) and then laundered the proceeds.  It is reported that more than 100 foreign-flagged ships, including fishing vessels and oil tankers, reportedly paid between $2,000 and $14,000 for an FSM registration through the MISR.

https://www.aperio-intelligence.com/wp-content/uploads/2020/05/Financial-Crime-Digest-April-2020.pdf

 

 

 

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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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