Economics 3364A/B Study Guide - Quiz Guide: Shell Corporation, Financial Action Task Force On Money Laundering
25 Oct 2020
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E. g. placement in financial institutions, breaking down transactions into smaller amount layering: to complicate tracing of funds. E. g. multiple transfers, repeat invoicing, re-sale of assets justification integration: integrating illegal proceeds into economy. E. g. purchasing of high value items, engaging in legal business by providing capital/loans: 1st stage for certain group of criminals most problematic - informal value transfer systems. Profit + damage money laundering investments (local) economies are flourishing in fact: - unfair competition. Pressure on integrity of civil servants and professionals. Using it as a front for a network of opaque ( tl tszatlan) holding companies owned by offshore shell companies: 4th: launder the money: - over-valuing players on the transfer market, the purchase of tv rights. Fatf risk assessment (2009) structure, financing, culture vulnerabilities in relation to structure: high level of accessibility, diversity of legal structures, complicated networks.
