Tag: shell companies

A huge sum of $800bn to $2trn is laundered annually around the world, as per the United Nations Office on Drugs and Crime, accounting for 2-5% of global GDP.

Money laundering continues to pose a significant challenge in Asia, exacerbated by the diverse economic landscapes, fragmented regulatory frameworks, and intricate financial systems.

Money laundering is the process of disguising the proceeds of criminal activity as legitimate funds in an effort to conceal their illicit origin.

Shell companies, often shrouded in secrecy, pose substantial risks to the global economy, being potential vehicles for crimes like fraud, tax evasion, money laundering,...