Concealing assets through yachts / aircraft and the 2010 Bank Secrecy Act / Anti-Money Laundering Examination Manual are on the radar in this “Asset Search News Roundup”:

  • Beneficial owners sometimes fraudulently conceal their assets by secretly purchasing a valuable yacht or aircraft.  They may then establish a Delaware or other shell company and use a nominee director to register the yacht or aircraft with anonymity.  Asset Managing Group, Inc. offers a yacht / aircraft registration service via Delaware corporations with nominee directors.
  • The Federal Financial Institutions Examination Council has released the 2010 edition of the Bank Secrecy Act / Anti-Money Laundering Examination Manual.  Its indicia or “red flags” of money laundering are listed at Appendix F:

Click On The Manual To Read It

Copyright 2010 Fred L. Abrams