Tag Archives | Shell companies

Yes, there are legitimate uses of shell companies They still shouldn’t be secret

15 April 2016 in Access to information, beneficial ownership, Financial Integrity

Thanks to an anonymous provider of data and the incredible work done by the International Consortium of Investigative Journalists (ICIJ), over the last days the world has gained an unprecedented peek into the global system of secret shell companies. The Panama Papers revelations have forced governments to respond, one national leader to step down, and […]

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Secret company ownership: a global solution for a global challenge

4 April 2016 in Accountability, Financial Integrity, Politics and government

The way the rich and powerful hide their ill-gotten gains is headline news around the world today. The Panama Papers show everyone how easy it is to set up secret companies that let people avoid taxes and launder money. Kings do it, business tycoons do it, footballers do it, presidents and prime ministers do it.  […]

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Football needs tough anti-money laundering rules

18 September 2015 in Financial Integrity, Sport

With the summer ending, football all over Europe is in full swing. The highest player transfer dealings in history have closed and this week the group stage of the UEFA Champions League, one of the world’s richest football competitions, has just kicked off. Yet transparency remains weak in this increasingly rich sector and as a result, […]

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Know your contractors: transparent ownership reduces corruption

28 April 2015 in Accountability, Anti-corruption movement, Civil society, Cost of Corruption, Education, Financial Integrity, G20, Measurement and Research, People power, Politics and government, Poverty and development, Private sector

Procurement is at the heart of the work that the World Bank and other international development banks do. Countries borrow from these multilateral organisations to develop the public works and services their citizens need: such as healthcare, education, sanitation and infrastructure. Through public procurement, countries use the borrowed funds to acquire expertise, labour and supplies […]

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Money-laundering: too important to leave to the experts alone

21 October 2014 in Accountability, Anti-corruption movement, Civil society, Cost of Corruption, Events, Impunity, Politics and government, Private sector

Starting tomorrow a group of government officials and experts belonging to the world’s leading anti-money laundering organisation – the Financial Action Task Force (FATF) – will be meeting in Paris. On the agenda is the adoption of a document on an issue that has major implications for the fight against crime, corruption and tax evasion […]

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Messi and the International Impunity System

7 August 2014 in Access to information, Accountability, Americas, Europe and Central Asia, Politics and government, Private sector, Sport

The ongoing prosecution of football super star Lionel Messi for alleged tax evasion made global headlines last week. Messi and his father Jorge are accused of evading 4.2 million euros (US$5.6m) in tax on sponsorship earnings in court documents submitted by the prosecutor. The alleged tax evasion scheme was based on using a web of […]

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Public consultation in Jersey: chance to come clean

30 April 2014 in Access to information, Accountability, Europe and Central Asia, Politics and government, Private sector

The use of shell companies to mask the true owners of assets is still on top of the political agenda and interest in the issue continues to grow. This week the UK government announced further details of its plan to implement a public registry of company ownership. This is important because shell companies can facilitate […]

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Shelving the shells

19 March 2014 in Access to information, Anti-corruption movement, Asset recovery, Financial Markets, Impunity, Politics and government, Poverty and development, Private sector

From one corruption fighting organisation to another, hats off to Global Witness. Founder Charmian Gooch and her colleagues have been recognised for their stellar efforts to highlight the damage done by corrupt practices in the extractives sector. In her award winning TED talk, Gooch highlighted the role of ‘the facilitators’ – global banks and global […]

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How to set up an offshore company in 10 minutes

9 April 2013 in Accountability, Financial Markets, Private sector

Last week the massive “Offshore Leaks” investigation by the International Consortium of Investigative Journalists reported the uncovering of the beneficial owners of thousands of offshore companies. Among the owners of offshore shell companies disclosed so far are several senior politicians and their close families in various countries. Just how difficult and costly is it to […]

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