Vincent Freigang
@freigang.bsky.social
Researcher on Corrupt Money Flows at Transparency International’s Secretatiat
They also included exemptions for foundations & associations. Good thing the Kerimov Foundation was named what it was…
December 20, 2024 at 1:30 PM
They also included exemptions for foundations & associations. Good thing the Kerimov Foundation was named what it was…
The findings are based on additional analysis of 78 cases of confirmed or suspected corruption and hiding of wealth offshore. Last year, we published a report ("Loophole Masters") on the non-financial enablers facilitating these cases.
www.transparency.org/en/publicati...
www.transparency.org/en/publicati...
Loophole Masters: How Enablers Facilitate Illicit Financial Flows…
How professionals such as lawyers, accountants and corporate service providers have played a critical role in enabling cross-border corruption schemes…
www.transparency.org
December 17, 2024 at 4:46 PM
The findings are based on additional analysis of 78 cases of confirmed or suspected corruption and hiding of wealth offshore. Last year, we published a report ("Loophole Masters") on the non-financial enablers facilitating these cases.
www.transparency.org/en/publicati...
www.transparency.org/en/publicati...
We also looked at how anonymous ownership of operational companies was used to further corrupt schemes. For example, Carlos Sao Vicente used Bermuda-based companies to inflate reinsurance contracts and siphon off funds.
More to come on this in the near future. Watch this space.
More to come on this in the near future. Watch this space.
December 17, 2024 at 4:46 PM
We also looked at how anonymous ownership of operational companies was used to further corrupt schemes. For example, Carlos Sao Vicente used Bermuda-based companies to inflate reinsurance contracts and siphon off funds.
More to come on this in the near future. Watch this space.
More to come on this in the near future. Watch this space.
France, UAE, the UK and the US were all key destinations for hiding funds in real estate. The US topped the group in value with properties > US$ 560 mn.
Properties were often held in the name of companies and trusts from secrecy jurisdictions, but also in the name of domestic companies.
Properties were often held in the name of companies and trusts from secrecy jurisdictions, but also in the name of domestic companies.
December 17, 2024 at 4:46 PM
France, UAE, the UK and the US were all key destinations for hiding funds in real estate. The US topped the group in value with properties > US$ 560 mn.
Properties were often held in the name of companies and trusts from secrecy jurisdictions, but also in the name of domestic companies.
Properties were often held in the name of companies and trusts from secrecy jurisdictions, but also in the name of domestic companies.
Secrecy jurisdictions and financial centres unsurprisingly topped the list of countries linked to the cases. 85% of the cases saw the use of a company or trust to obscure ownership of assets.
December 17, 2024 at 4:46 PM
Secrecy jurisdictions and financial centres unsurprisingly topped the list of countries linked to the cases. 85% of the cases saw the use of a company or trust to obscure ownership of assets.
It covers:
🗺️ Key jurisdictions hosting assets linked to the cases
🏰 A closer look at real estate purchases
🏭 Use of anonymous ownership of operational companies
It underscores the need for stronger transparency of asset ownership, supervising enablers & strengthening global asset recovery efforts.
🗺️ Key jurisdictions hosting assets linked to the cases
🏰 A closer look at real estate purchases
🏭 Use of anonymous ownership of operational companies
It underscores the need for stronger transparency of asset ownership, supervising enablers & strengthening global asset recovery efforts.
December 17, 2024 at 4:46 PM
It covers:
🗺️ Key jurisdictions hosting assets linked to the cases
🏰 A closer look at real estate purchases
🏭 Use of anonymous ownership of operational companies
It underscores the need for stronger transparency of asset ownership, supervising enablers & strengthening global asset recovery efforts.
🗺️ Key jurisdictions hosting assets linked to the cases
🏰 A closer look at real estate purchases
🏭 Use of anonymous ownership of operational companies
It underscores the need for stronger transparency of asset ownership, supervising enablers & strengthening global asset recovery efforts.