Detection of money laundering through shell companies
A shell company is a registered legal entity that exists only on paper and has no significant assets or business activities. The shell company pretends to provide real business services in order to conceal illegal funds and its beneficial owner, launder money or avoid tax payments.
Shell vs. Shelf Companies
In the TV series ‘Blacklist,’ Red Reddington – a so called FBI most wanted fugitive who cooperates for hunting down other criminals – advised his contact agent: if you aim to decode the actions of criminals, THINK LIKE A CRIMINAL. This principle also applies to our line of work. To effectively combat crime, we must understand how criminals think and know the loopholes they might exploit. That’s why, at WIACON, we make it a priority to stay updated on everything happening in the realm of financial crime.