Moody’s Analytics has found 21 million “red flags” associated with shell companies that could be used to enable financial crimes. These red flags include atypical directorship, mass registration, dormancy, circular ownership, and more. The report also highlighted the fact that $1.6 trillion is laundered annually through these shell companies, despite new regulations aiming to improve transparency. Moody’s Analytics found that there are some cases where companies have reported revenues of over $2 billion with only one employee or even less than five years old directors and thousands of entities with a registered address at Egypt's pyramids. Additionally, one individual held 5,751 roles at 2,883 different entities. The study also found that the UK has the highest number of shell company risks among all countries, followed by the US.
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https://read.distractionfree.site/fortune/2024/01/22/moodys-red-flags-shell-companies-directors-123-years-old/
#ShellCompanies #FinancialCrimes #RedFlags #Regulation #Laundering #Transparency #Directors
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2024-01-23 22:53:30
Author Public Key
npub19vqkmyttvpwpul5njms9ej6hgc30e2t03shnx9dzyvy4gwstcc4s0mj236Published at
2024-01-23 22:53:30Event JSON
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"content": "Moody’s Analytics has found 21 million “red flags” associated with shell companies that could be used to enable financial crimes. These red flags include atypical directorship, mass registration, dormancy, circular ownership, and more. The report also highlighted the fact that $1.6 trillion is laundered annually through these shell companies, despite new regulations aiming to improve transparency. Moody’s Analytics found that there are some cases where companies have reported revenues of over $2 billion with only one employee or even less than five years old directors and thousands of entities with a registered address at Egypt's pyramids. Additionally, one individual held 5,751 roles at 2,883 different entities. The study also found that the UK has the highest number of shell company risks among all countries, followed by the US.\n\nRead this story from \"Fortune\" for free without being tracked.\n\nhttps://read.distractionfree.site/fortune/2024/01/22/moodys-red-flags-shell-companies-directors-123-years-old/\n\n#ShellCompanies #FinancialCrimes #RedFlags #Regulation #Laundering #Transparency #Directors",
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