Financial Crime Watchdog Calls for Countries to Come Clean on Shell Companies

Global Financial Watchdog Targets Shell Firms as Money Laundering “Getaway Cars”

NEWS BRIEFThe Financial Action Task Force (FATF) will intensify scrutiny of shell companies in its next round of country assessments, calling them a “getaway car” for criminals. The warning comes as the U.S. and Switzerland recently rolled back transparency rules for beneficial ownership—a key tool in tracking illicit finance. WHAT HAPPENED: WHY IT MATTERS: IMPLICATIONS: […] The post Global Financial Watchdog Targets Shell Firms as Money Launder…

Financial crime watchdog calls for countries to come clean on shell companies

PARIS: The head of the global financial crime watchdog has called on countries to come clean on the use of shell companies, calling them the "getaway car" for criminals, and said the problem would be a key part of a new round of national assessments.The Financial Action Task Force's focus on shell companies c

Shell Companies Are ‘Getaway Cars,’ Dirty Money Watchdog Says

The head of the global financial crime watchdog has called for countries to stop the use of shell companies, saying they are like a “getaway car” for criminals. Elisa de Anda Madrazo, a Mexican who became president of the Financial Action Task Force last year, said countering the problem of shell companies will be a key part of a new round of national assessments. The FATF is a Paris-based intergovernmental anti-money laundering group that asses…

NEWS: FATF President calls shell companies the ‘getaway car’ for financial crime - AML Intelligence

This content is for members only. Visit the site and log in/register to read. The post NEWS: FATF President calls shell companies the ‘getaway car’ for financial crime appeared first on AML Intelligence.