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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: Shell Corporations

Compliance alert: World Bank adopts more flexible and transparent procurement reforms

The World Bank’s board of executive directors Tuesday approved “a once-in-a-generation” reform package for procurement in projects financed by the Bank.

In the new Procurement Framework, the World Bank said its management “will examine options to  collect, and make available the beneficial ownership information for legal entities participating in Bank-financed procurements.”… Continue Reading

Groups urge KYC rules for real estate to fight money laundering

Transparency International-USA sent a letter to the U.S. Treasury Department Tuesday, endorsed by 17 civil society groups, asking for due diligence requirements for professionals in the real estate sector.

TI-USA said millions of dollars are spent in the United States on luxury property by people who hide behind anonymous companies.… Continue Reading

Guilty plea in $19 million check-cashing scheme

The DOJ announced a guilty plea Tuesday by a check-cashing company and its owner for processing $19 million in transactions that were used to set up sham businesses.

Books and records relating to a firm’s anti-money laundering (AML) program — much like those used to comply with the FCPA’s recordkeeping requirements as mandated by the SEC — can be reviewed by the SEC, DOJ or state examiners in regulatory investigations.… Continue Reading

Opportunities for Transparency: Will the G8 Act?

As the G8 leaders meet in Northern Ireland today and tomorrow, it is important that they make strides on two key anti-corruption issues: (1) Ensuring public officials and their relatives cannot cloak their identities and the source of their corrupt funds by using anonymous corporations and (2) Ensuring that extractive wealth fuels development rather than corruption and poor governance.… Continue Reading