Twelve new peer review reports and laundering assets by purchasing real estate:

  • On September 12th, the Organisation for Economic Co-operation and Development announced its 12 new peer review reports regarding assets hidden in international tax evasions.  A press release discussing the reviews, mentions trusts and bearer shares:”In all 12 new reviews, the most common deficiencies relate to: the lack of available [beneficial] ownership information as regards trusts and bearer shares; incomplete accounting information for some forms of trusts and partnerships, including foreign or international entities; and some limitations in the international agreements allowing for exchange of information.

Case 08012, Courtesy of The Egmont Group

Copyright 2011 Fred L. Abrams