August 14, 2017 by Verafin
For many years, financial crime investigators have warned of possible links between shell companies and international money laundering activity. In the 2013 report How Shell Companies Aid Terrorism, Crime and Corruption, the Open Society Foundations discussed how shell companies are used to launder billions...
July 7, 2016 by Verafin
Until now, the lack of any general requirement for financial institutions (FIs) to know and verify the identity of the beneficial owners of their entity customers created the opportunity for criminal exploitation of the banking system through anonymous access. This...