Governmental authorities sometimes use data mining and money laundering typologies to detect financial fraud trends.  An earlier financial fraud trend we will undoubtedly see in 2010, is beneficial owners hiding assets through nominee bank accounts.  Another likely continuing trend for 2010, is the use of Delaware-based shell companies to facilitate money laundering in some cases.

Financial investigators around the world know that beneficial owners may try to hide their assets by  using relatives, money managers, etc. as bank signatories on nominee bank accounts.  Beneficial owners may even use a "nominee incorporation service" to supply a bank signatory in order to circumvent customer identification rules at banks.  At "Fighting Financial Fraud At UK Banks", I mentioned this form of bank account abuse.

Shell companies which lack transparency and are based in Delaware, could also play significant roles in some financial frauds carried out in 2010.  As "Domestic Shell Companies & An Asset Search" indicated, Delaware-based shell companies can particularly pose a money laundering risk.  My article "Following The Money Trail From Poland To Delaware", provided the details of three different financial fraud investigations which focused on possible shell companies in Delaware.

Copyright 2010 Fred L. Abrams