Invest Offshore

Tag: Financial Action Task Force

  • Know-Your-Customer (KYC) for a Clean Nominee Bank Account

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    by

    Aaron
    in

    [box]Know-Your-Customer (KYC) rules that freeze up non-compliant banking, businesses, entities and persons. Freeze up means that transfers are blocked; no trade in capital processed.[/box] Financial institutions fear to be wittingly or unwittingly implicated when they are used to settle, facilitate, or finance international trade transactions (e.g., through processing wire transfers, providing trade finance, and issuing…

  • European Parliament: The U.S. is a Haven for Tax Cheats and Money Launderers

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    by

    Aaron
    in

    Earlier this week, we blogged about how the United States recently declared the Philippines to be a “major money laundering country.”  On the same day of our post, March 7, the European Parliament (EP) issued a Report which describes the United States as a growing haven for tax evasion and money laundering.  Specifically, the Report…