SIGNATURES FOR SALE: HOW NOMINEE SERVICES FOR SHELL COMPANIES ARE ABUSED TO CONCEAL BENEFICIAL OWNERS

The Stolen Asset Recovery Initiative has produced this report which analyses a family of related corporate arrangements in which nominees act as agents of principals in control of shell companies.  It focuses on how nominee arrangements can be abused to facilitate financial crime by obscuring the identity of those in control of shell companies and on policies designed to counter such abuses. It says that nominee arrangements are currently both a threat and a missed opportunity for policy-makers. Strengthening the regulation of nominee arrangements can enhance the transparency of shell companies and help reduce financial crime.

https://star.worldbank.org/sites/default/files/2022-04/StAR-nominees_final.pdf

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

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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