According to a new report, released today, most large-scale corruption cases involve the use of legal entities to conceal ownership and control of proceeds of corruption, and policymakers should take steps to improve transparency in order to reduce opportunities for wrongdoing.
The report, entitled The Puppet Masters: How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It, examines how bribes, embezzled State assets and other criminal proceeds are being hidden via legal structures, including shell companies, foundations and trusts. The study also provides policymakers with practical recommendations on how to step up ongoing international efforts to uncover flows of criminal funds and prevent criminals from misusing shell companies and other legal entities.
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