RESEARCHERS TOOK SHELL COMPANIES ON A GLOBAL SHOPPING TRIP WITH FINANCIAL INSTITUTIONS — HERE’S WHAT THEY FOUND

On 1 December, a report from ICIJ says that banks and financial service providers continue to turn a blind eye and accept customers that may be at high risk for financial crime, citing a new study by 3 renowned academics.  The researchers incorporated 12 shell companies in locations around the world and tried to open bank accounts for them. 

https://www.icij.org/inside-icij/2021/12/researchers-took-shell-companies-on-a-global-shopping-trip-with-financial-institutions-heres-what-they-found/

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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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