Harry Elias Partnership Partner S Suressh has been featured in an article by The Business Times on why stripping the layers in money laundering is a herculean task.
Commenting on the common tools in the investment scene that could be fronts for money laundering activities, Suressh said “Shell companies – or companies with no significant assets – are a popular conduit”. These companies are usually used to hold assets or execute transactions for the individual seeking to conceal his identity.
Suressh added “Shell companies could even be incorporated in jurisdictions perceived to be well-governed, including the United States, the United Kingdom, Hong Kong and Singapore – where the incorporation process is fast and efficient.”
Read in full here.
