Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Thursday, September 27, 2012

Anti-Money Laundering Statutes Are Stricter In Offshore Territories

MoneyA study has confirmed that statutes that regulate anti-money laundering and terrorism are stricter in offshore territories than within countries like the United States and the United Kingdom. In fact, the study concluded that it was easier to identify a shell company in the United States than poorer countries. The company that conducted the study noted that it was surprising to learn that people in these offshore territories and poorer nations were more likely to comply with rules and global standard than their richer counterparts. 

See Amanda Banks, AML Standards Highest in Offshore Territories, Tax-News.com, Sept. 26, 2012.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this blog to my attention.


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