FATF Issues Typology Report on Misuse of Corporate Vehicles

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Monday, January 1, 2007
Bruce Zagaris
On October 13, 2006, the Financial Action Task Force released a new typology report, The Misuse of Corporate Vehicles, Including Trust and Company Service Providers. The report, which seeks to identify areas of vulnerability for money laundering and terrorist financing and evidence of misuse, examined a series of case studies of the misuse of corporate vehicles and noted key elements and patterns of abuse. The study also analyzed the results of a survey conducted to obtain a better picture of international diversity in the formation and administration of corporate vehicles. The report suggests a number of areas that may merit stricter regulation to prevent criminals from exploiting corporate vehicles...[more]