Defendant laundered more than $1.1 Million through a shell company.
Tax evasion, bribery, corruption, money laundering, fraud, sanction evasion and other white collars crimes are often facilitated by lawyers, accountants, financial institutions and other “professional enablers”. A new OECD report sheds light on the extent on the problem, and offers recommendations.
BSA-AML Compliance Officers, take heed! A new whistleblower rewards program was approved by the U.S. Congress last week with important implications both for financial institutions and for foreign government officials trying to hide their stolen money in the United States.
Questionable owners of anonymous shell companies may face a much harder time hiding their dirty money in the U.S. in the future.