The misuse of corporate vehicles in grand corruption cases

The misuse of corporate vehicles in grand corruption cases (Worldbank)

One of the obstacles frequently cited by investigators as impeding the tracing of funds involved in corruption is the difficulty in establishing the ownership/control of those funds. In many cases, corruption proceeds have been moved through/ concealed by corporate vehicles. The overall aim of this project is to investigate and identify those impediments and offer recommendations to address them both at the policy and practitioners’ level.

The team will examine evidence from past grand corruption cases, will test the level of implementation of relevant international AML standards (ref. FATF recommendations No. 5, 33, 34) by financial and legal service providers in selected jurisdictions, and will consult practitioners to identify existing obstacles to investigations. The combination of these three exercises will culminate in the production of a “good practice guide”

Target Audience:
This study is primarily aimed at policy makers in charge of designing anti- corruption and AML strategies, and investigators facing cases involving the misuse of corporate vehicles to conceal proceeds of corruption.

Task Team Leader:
Mr Emile Van der Does de Willebois, Senior Financial Sector Specialist, Financial Market Integrity Unit (FPDFI)

Project Team:
The main project team includes staff from the World Bank (Cari Votava) and consultants (Prof. Jason Sharman, Mr. Jan van Koningsveld, Matteo Vaccani).

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