Thursday, March 30, 2017

SHELL COMPANIES for money laundering, tax evasion, hiding kickbacks, layering PART 32 -- CAPT AJIT VADAKAYIL


THIS POST IS CONTINUED FROM PART 31, BELOW--




The FATF standards on money laundering and terrorism financing category as “preventive measures”.  

These preventive measures require financial institutions to identify their clients, create client profiles, weed out those who from the start look like they may be bad guys or controlled by bad guys, and then monitor the account activity of accepted clients to see if that activity varies from what is expected or reflects the kind of activity that known bad guys have undertaken in the past.

 Financial institutions are then supposed to look further into the questionable client activity and report to the government when they suspect the client may be a criminal, including a terrorist.  Key to the process of successful activity monitoring is an understanding of what known bad guys have done in the past. Studies of these past actions are known as typologies, which can include special “red flag” indicators for particular types of nefarious activity.

 The problem with adding terrorism financing to the list of activities that financial institutions were required to look for, and requiring them to report to the government when they suspected they saw it, was that the FATF didn’t actually know how bad guys financed terrorism. 

It was one thing for governments to use their considerable investigative resources to identify terrorists or terrorist organizations and then pass those names along to financial institutions so that those institutions could verify whether they had any such clients, but yet another to ask financial institutions to identify terrorists based on their clients’ transactions alone.

Until recently, the FATF’s and member governments’ attempts to develop terrorism financing typologies and red flags had been fitful, incomplete, and based largely on a small number of cases that were often not even relevant.  The United Nations Counter-Terrorism Implementation Task Force (CTITF)  undertake a comprehensive study of terrorism financing.

The Counter-Terrorism Committee is a subsidiary body of the United Nations Security Council. the United Nations Security Council unanimously adopted resolution 1373, which, among its provisions, obliges all States to criminalize assistance for terrorist activities, deny financial support and safe haven to terrorists and share information about groups planning terrorist attacks. 

The 15-member Counter-Terrorism Committee was established to monitor implementation of the resolution. While the ultimate aim of the Committee is to increase the ability of States to fight terrorism, it is not a sanctions body nor does it maintain a list of terrorist groups or individuals.. 

While the Counter-Terrorism Committee is not a direct capacity provider it does act as a broker between those states or groups that have the relevant capacities and those in the need of assistance

In 2012, HSBC, one of the world’s largest banks, settled with the U.S. Government, avoiding criminal prosecution of its executives, for helping to launder money for Mexican drug cartels as well as Al Qaeda. HSBC provided a “gateway for terrorists to gain access to U.S. dollars and the U.S. financial system.” 

HSBC agreed to forfeit 1.256 billion dollars, the largest forfeiture amount ever by a financial institution for a compliance failure. They don’t care as long as there is NO jail term. The lost money can be made up in days .


Because they were let off with zero criminal charges, the bank was allowed to go back to crooked business as usual.

The Organized Crime and Corruption Reporting Project published a comprehensive narrative that details how billions of dollars were moved from Russian sources to bogus shell companies before traveling further into various banks, and ultimately numerous companies that inadvertently accepted corrupt funds. 

Money entered the Laundromat via a set of shell companies in Russia that exist only on paper and whose ownership cannot be traced. Some of the funds may have been diverted from the Russian treasury through fraud, rigging of state contracts, or customs and tax evasion.

 Money that might have helped repair the country’s deteriorating roads and ports, modernize the health care system, or ease the poverty of senior citizens – was instead deposited in a Moldovan bank.

HSBC, which is headquartered in London, processed US$545.3m in Laundromat cash, mostly routed through its Hong Kong branch

A great number of banks accepted these funds easily, and the scheme touched upon at least 96 countries receiving the tainted money including the United States, with money ending up at Citibank and Bank of America. The OCCRP reported that “the 21 shell companies fired out 26,746 payments from their various Trasta Komercbanka and Moldindconbank accounts” between 2011 and 2014.

Earlier estimates of  laundered money were wrong,  recent projections have increased that number to as much as $80 billion.

The suspected “architect” behind this massive undertaking is Moldovan businessman Vyacheslav Platon.

US  Congress could close this loophole by passing a simple, two-page law requiring the beneficial owner of a company to be identified whenever a U.S. company is formed. Treasury submitted a legislative proposal to Congress that provides a framework for closing this loophole once and for all.

Delaware is well-known for its incorporation businesses, but it’s no worse than any other state in this regard. With about $100 and 20 minutes, you can go to a U.S. state’s website and form a company without disclosing the name of the person who will own or control it. 

Professional incorporation agents set up hundreds or even thousands of these companies and then sell them, in some cases to those looking to move money surreptitiously. 

Criminals have learned that American companies have an easier time obtaining bank accounts, and so they incorporate here in large numbers. Financial investigators often come across U.S. shell companies in their money hunts — and that may be where the trail ends.

WE ASK DONALD TRUMP TO STOP THIS NONSENSE !

U.S. shell companies have the dubious distinction of being the only money laundering method where secrecy is provided by a government entity.

Stopping terrorist financing and money laundering are bipartisan issues, and Congress’s support for the work of my office is broad and deep on outside –but shallow and fickle inside .  Whenever  legislators have tried over the years to pass laws similar to the one recently proposed by Treasury, interested stakeholders have defeated the bills every time. 

This is simply unacceptable.


To mitigate the threat, the Treasury Department issued a rule that will require U.S. banks opening accounts for a company to obtain and verify the identity of the company’s beneficial owner. That will help with companies that choose to bank here, but it won’t stop criminals who use U.S. front and shell companies to open bank accounts abroad. 

And the burden for disclosing the true owners of companies should fall primarily on those incorporating the companies in the first place. To set this right will take an act of Congress—but as long as US congressmen are in Jew Rothschild’s  payroll this wont happen. 

After all Rothschild’s world financial empire is held together by shell companies


WHY IS THE MODI GOVT ALLOWING RAJYA SABHA MEMBERS TO AMEND FINANCE BILL ?

DONT THEY KNOW RAJYA SABHA HAS NO POWERS ON FINANCE ?

WHY DID THE RAJYA SABHA SPEAKER ALLOW DISCUSSIONS ON FINANCE BILL?
IF THE RAJYA SABHA SPEAKER DOES NOT KNOW THE RULES UNDER THE CONSTITUTION --WE THE PEOPLE DEMAND HIS EXPULSION .




  1. POOR BASTARD MEDIA WHORES

    THEY DONT KNOW ASSHOLE FROM ELBOW !

    THEY ONLY KNOW BOLLYWOOD, CRICKET AND CHOOTIYA POLITICS

  2. http://www.dnaindia.com/money/report-oppn-attacks-govt-for-opening-doors-to-political-extortionism-2375073
    QUOTE: The government had yesterday faced a major embarrassment in the Rajya Sabha as five amendments moved by the Congress and the CPI(M) to the Finance Bill were adopted and approved by the House.UNQUOTE

    THIS IS LIKE FLEA RIDDEN CATS DOING MEEOW MEEOW AT PORT ROYALE --WHEN THE PIRATES ARE COUNTING THE TREASURE

    WHO CARES?

    5 AMENDMENTS WILL BE FLUSHED DOWN THE TOILET

    RAJYA SABHA HAS NO POWERS OVER FINANCE 

    QUOTE: After Finance Minister Arun Jaitley moved the amended Finance Bill for consideration by the Lok Sabha, Deepender Hooda (Cong) said this was a "historic" occasion as never in the past had the Rajya Sabha amended the Finance Bill.  : UNQUOTE
    AIYOOOOOOO

    PAAVAM

    DONT KNOW ASSHOLE FROM ELBOW

  3. Yes Sir, flushed down the toilet.

    All amendments recommended by the Rajya Sabha were rejected by the Lower House
    https://www.thequint.com/india/2017/03/30/finance-bill-2017-lok-sabha-rajya-amendments-arun-jaitley


  4. WE ASK THE MODI GOVT

    ENSURE SOME EMINENT ECONOMISTS ARE MEMBERS OF THE RAJYA SABHA ( NOT ROTHSCHILDs ECONOMISTS )

    NOT JOKERS LIKE SACHIN TENDULKAR AND REKHA
.

Chun Doo-hwan was the the fifth President of South Korea from 1980 to 1988. President Chun was convicted in Korea in 1997 of receiving more than $200 million in bribes from Korean businesses and companies.   

President Chun and his relatives laundered some of these corruption proceeds through a web of nominees and shell companies in both Korea and the United States.



The former president and chief executive officer of BizJet International Sales and Support Inc., a U.S.-based subsidiary of Lufthansa Technik AG with headquarters in Tulsa, Oklahoma, that provides aircraft maintenance, repair and overhaul services,  was caught in a scheme to pay bribes to foreign government officials.

Bernd Kowalewski, 57, the former President and CEO of BizJet, pleaded guilty  in US federal court in, to conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and a substantive violation of the FCPA in connection with a scheme to pay bribes to officials in Mexico and Panama in exchange for those officials’ assistance in securing contracts for BizJet to perform aircraft maintenance, repair and overhaul services.  

Kowalewski and his co-conspirators paid bribes directly to foreign officials to secure aircraft maintenance repair and overhaul contracts, and in some instances, the defendants funneled bribes to foreign officials through a shell companies.

WELL, HUNDREDS OF SUCH CRIMES ARE HAPPENING IN INDIA.  

WE NOT KNOW HOW TO CATCH THESE CRIMINALS.

UNCLE OTTAVIO QUATTROCCHIs WIFE MARIA BABY ONCE KICKED  AN UNIFORMED JAWAN WITH HER POINTY ITALIAN PUCCI ( OR WAS IT GUCCI )  SHOES ,  JUST BECAUSE HE DARED TO RUN A METAL DETECTOR ON HER.



AIYOOOOO

I WILL BECOME McWOLF AT THIS RATE 


Most naturally occurring data sets follow a strange rule called Benford's Law. 

This rule allows you to predict how often each number 1 through 9 will appear as the first non-zero digit in the data set.


Benford's Law can be used to analyze financial data and identify red flags.   If the data doesn't look anything like the distribution predicted by Benford's Law it may mean the numbers have been manipulated.


Benford's law, also called the first-digit law, is an observation about the frequency distribution of leading digits in many real-life sets of numerical data.  The law states that in many naturally occurring collections of numbers, the leading significant digit is likely to be small

For example, in sets which obey the law, the number 1 appears as the most significant digit about 30% of the time, while 9 appears as the most significant digit less than 5% of the time.

By contrast, if the digits were distributed uniformly, they would each occur about 11.1% of the time. Benford's law also makes (different) predictions about the distribution of second digits, third digits, digit combinations, and so on.

It has been shown that this result applies to a wide variety of data sets, including electricity bills, street addresses, stock prices, house prices, population numbers, death rates, lengths of rivers, physical and mathematical constants, and processes described by power laws (which are very common in nature). It tends to be most accurate when values are distributed across multiple orders of magnitude.

The law could be used to detect possible fraud in lists of socio-economic data submitted in support of public planning decisions.


Based on the plausible assumption that people who make up figures tend to distribute their digits fairly uniformly, a simple comparison of first-digit frequency distribution from the data with the expected distribution according to Benford's Law ought to show up any anomalous results.

Following this idea, Mark Nigrini showed that Benford's Law could be used in forensic accounting and auditing as an indicator of accounting and expenses fraud. In practice, applications of Benford's Law for fraud detection routinely use more than the first digit.


Benford’s Law gives the expected patterns of the digits in tabulated data and it has been used by auditors and scientists to detect anomalies in tabulated data




If somebody tries to falsify, say, their tax return then invariably they will have to invent some data. When trying to do this, the tendency is for people to use too many numbers starting with digits in the mid range, 5,6,7 and not enough numbers starting with 1. 

This violation of Benford's Law sets the alarm bells ringing.


TIME FOR A KHAINI BREAK !



ALL THIS IS COPIED FROM ANCIENT KERALA MATH

THE VEDIC GOLDEN MEAN 1.618 ( SRI YANTRA ) ,  THE FIBONACCI SERIES  ( VEDIC SERIES ) AND BENFORDs LAW ,   ARE ALL INTERRELATED.

The Fibonacci numbers are
0, 1, 1, 2, 3, 5, 8, 13, ... (add the last two to get the next)
The golden section numbers are

0·61803 39887... = phi = φ and
1·61803 39887... = Phi = Φ

In numbers that appear in tables of physical and chemical constants.  and similar tabulations, the digit 1 appears as first digit almost three times more often, as one would expect

Fibonacci and Lucas numbers tend to obey Benford's law

Benford offered a general "law of anomalous numbers. The probability that a random decimal begins with digit p is
log (p + 1) - log p

The first digits of Fibonacci and Lucas numbers tend to obey very closely the formula of probability offered by Benford.

The Lucas numbers or Lucas series are an integer sequence named after the mathematician François Édouard Anatole Lucas ( stolen from Kerala Math ) who studied both that sequence and the closely related Fibonacci numbers. 

Lucas numbers and Fibonacci numbers form complementary instances of Lucas sequences.

Similar to the Fibonacci numbers, each Lucas number is defined to be the sum of its two immediate previous terms, thereby forming a Fibonacci integer sequence. 

The first two Lucas numbers are L0 = 2 and L1 = 1 as opposed to the first two Fibonacci numbers F0 = 0 and F1 = 1. Though closely related in definition, Lucas and Fibonacci numbers exhibit distinct properties.

All Fibonacci-like integer sequences appear in shifted form as a row of the Wythoff array; the Fibonacci sequence itself is the first row and the Lucas sequence is the second row. 

The Wythoff array ( stolen from Kerala Math ) is an infinite matrix of integers derived from the Fibonacci sequence .. it can also be defined using Fibonacci numbers  or directly from the golden ratio and the recurrence relation defining the Fibonacci numbers.

Like all Fibonacci-like integer sequences, the ratio between two consecutive Lucas numbers converges to the golden ratio.

THE RATIO OF SUCCESSIVE TERMS IN A FIBONACCI SEQUENCE  TEND TOWARDS THE GOLDEN MEAN. 

THE DIGITS OF ALL NUMBER MAKING UP THE FIBONACCI SERIES TEND TO CONFORM TO BENFORDs LAW

THE FIRST DIGITS OF THE FIRST 100 FIBONACCI AND THE FIRST 100  LUCAS NUMBERS APPROXIMATED THE EXPECTED FREQUENCES OF BENFORDs LAW    

( IT FITS BETTER IF WE INCREASE THE NUMBER FROM 100 TO 1000 AND THEN FURTHER TO 2000 )

My revelations now jump to 35.0%


ALL THOSE WHO THINK HINDUS ARE HEATHEN PAGAN SAVAGES , PLEASE RAISE YOU FUCKIN’ HAND .

ALL RIGHT SHOVE IT RIGHT BACK INTO YOUR ASSHOLES



Below: The Sri Yantra which contains TOE, is drawn with the Vedic Golden Mean as the base ( 1.618 )--   it was drawn in ancient days , when the white man was was doing GRUNT GRUNT for language and living in caves, clubbing down animals and eating them raw..









TO BE CONTINUED-


CAPT AJIT VADAKAYIL
..

Wednesday, March 29, 2017

SHELL COMPANIES for money laundering, tax evasion, hiding kickbacks, layering PART 31 -- CAPT AJIT VADAKAYIL


THIS POST IS CONTINUED FROM PART 30 , BELOW---





In February 2016, instructions to steal US$951 million from Bangladesh Bank, the central bank of Bangladesh, were issued via the SWIFT network. Five transactions issued by hackers, worth $101 million and withdrawn from a Bangladesh Bank account at the Federal Reserve Bank of New York, succeeded, with $20 million traced to Sri Lanka (since recovered) and $81 million to the Philippines (about $18 million recovered).

The Federal Reserve Bank of NY blocked the remaining thirty transactions, amounting to $850 million, at the request of Bangladesh Bank.  It was identified later that Dridex malware was used for the attack.

Dridex also known as Bugat and Cridex is a form of malware that specializes in stealing bank credentials via a system that utilizes macros from Microsoft Word.The targets of this malware are Windows users who open an email attachment in Word or Excel, causing macros to activate and download Dridex, infecting the computer and opening the victim to banking theft. 

The primary objective of this software is to steal banking information from users of infected machines to immediately launch fraudulent transactions.

The hackers managed to gain access to the network because the Bank was using second-hand $10 network switches without a Firewall to run its network. 

The network computers that were linked through the second-hand routers were connected to the SWIFT global payment network, allowing hackers to gain access to the credentials required to make high-value transfers straight into their own accounts. Firewall are meant to help keep out malicious hackers and malware from doing nasty things.

A firewall is a network security device that monitors traffic to or from your network. It allows or blocks traffic based on a defined set of security rules..   

A firewall monitors and controls the incoming and outgoing network traffic based on predetermined security rules. A firewall typically establishes a barrier between a trusted, secure internal network and another outside network, such as the Internet, that is assumed not to be secure or trusted.  

Firewalls are often categorized as either network firewalls or host-based firewalls. Network firewalls filter traffic between two or more networks; they are either software appliances running on general purpose hardware, or hardware-based firewall computer appliances. 

Host-based firewalls provide a layer of software on one host that controls network traffic in and out of that single machine.  Firewall appliances may also offer other functionality to the internal network they protect, such as acting as a DHCP or VPNserver for that network.

In this cyber heist, thieves tried to illegally transfer US$951 million to several fictitious bank accounts around the world.. The perpetrators managed to compromise Bangladesh Bank's computer network, observe how transfers are done, and gain access to the bank's credentials for payment transfers. 

They used these credentials to authorise about three dozen requests to the Federal Reserve Bank of New York to transfer funds from the account Bangladesh Bank held there to accounts in Sri Lanka and the Philippines. 

Thirty transactions worth $851 million were flagged by the banking system for staff review, but five requests were granted; $20 million to Sri Lanka (later recovered)-- and $81 million lost to the Philippines, entering the Southeast Asian country's banking system on February 5, 2016. This money was laundered through casinos and some later transferred to Hong Kong.

The $20 million transfer to Sri Lanka was intended by hackers to be sent to the Shalika Foundation, a Sri Lanka-based private limited company. 

The hackers misspelled "Foundation" in their request to transfer the funds, spelling the word as "Fundation". ( a typical BONG typo--they say UNNDD instead of WOUND  ) 

This spelling error gained suspicion from Deutsche Bank, a routing bank which put a halt to the transaction in question after seeking clarifications from Bangladesh Bank

The incident shows the risks that banks connected to the SWIFT system are exposed to as a result of the security vulnerabilities of other member banks. 

By breaching the Bangladesh Central Bank's security firewalls, hackers were able to hack the system and transfer the funds through the established global banking networks almost undetected. 

The failure of the Bangladeshi government to build adequate safeguards for its financial system became the starting point for a global, multi-million money laundering scheme whose effect was felt beyond the country's borders. 

The case  highlights the threat of cyber attacks to both government and private institutions by cyber criminals using real bank codes to make orders look genuine. SWIFT has advised banks using the SWIFT Alliance Access system to strengthen their cyber security posture and ensure they are following SWIFT security guidelines

I PREDICT JEW ROTHSCHILDs KOSHER AGENCIES WILL TRY TO FORCE A REGIME CHANGE IN NORTH KOREA BY PUTTING THE BLAME ON KIM JONG UN

BASTARDS !

GAAND MAARA TULSI NEH , PAKDE GAYE KABEER ?

IN FUTURE FINANCIAL FRAUD WILL BE USED TO TRIGGER REGIME CHANGE—A KOSHER  FALSE FLAG ATTACK AND A KOSHER HEGELIAN DIALECTIC


MAKE KIM JONG UN A THIEF AND STEAL HIS NATIONs RARE EARTHS !


THIS IS HOW THE JEW NIKOLAS SARKOZY AND HILLARY CLINTON MURDERED GADDAFI—A LIBYAN HERO— BY GIVING HIM A BAD NAME

GIVE A DOG A BAD NAME AND THEN SHOOT IT ON THE STREETS



Below:  Gaffafis's murder was planned by JEW Sarkozy and Hillay Clinton--   his anus was impaled by a bayonet 





BELOW: CHECK OUT THE CRIMINAL BITCH !  

THESE ARE THE PEOPLE MODI IS DANCING WITH !

APCO MODI CRAVES FOR RECOGNITION FROM JEWS!! 



ALMOST ALL INDIAN MINISTERS AND POLITICIANS WHO WORKED UNDER THE ITALIAN WAITRESS WILL FALL IN THE SAME CATEGORY . ..

U.S. prosecutors said the Greens created SHELL companies to pay off Juthamas, with the money then transferred into the bank accounts of Juthamas' daughter and a friend.

A U.S. federal court in 2010 sentenced filmmakers Gerald and Patricia Green to six months in prison after they were convicted of conspiracy under the Foreign Corrupt Practices Act, which prohibits making corrupt payments to foreign officials for business purposes.

According to a criminal complaint filed in March 2009, the Greens set up several SHELL companies in California and bank accounts in Singapore, the U.K. and the Isle of Man to pay a total of $1.8 million in bribes to an unnamed former governor of the Tourism Authority of Thailand.


PM MODI, WE WANT YOU TO DO POST-MORTEM ,  EXHUME BURIED FINANCIAL CRIME ,  AND THROW BIG FISH IN JAIL

CREATE A INVESTIGATION TEAM WITH INTELLIGENCE AND DETERMINATION –

PAY THEM WELL.    

TRAIN AUDITORS IN USA ..



I WRITE THIS BLOG SERIES SO THAT WE CAN LIFT THE WATAN OUT FROM THE “RAGADKE KHAINI MOONH MEIN DHAAL “  CULTURE OF SHAMEFUL IGNORANCE CALLOUSNESS AND LASSITUDE.





THANK GOD FOR THE JOINT LETTERS BY DESH DROHI AND FOREIGN PAYROLL INDIAN ACTIVISTS



MOST NAMES ARE COMMON TO ALL SUCH LETTERS ( INCLUDING SAME SEX MARRIAGE ) 


WE ASK MODI GOT TO PROFILE THESE ACTIVISTS WHO ARE CONTROLLED FROM ABROAD--  MOST RUN SHELL COMPANIES

https://newsnow.live/uphold-spirit-of-constitution-citizens-write-to-hamid-ansari/


I KNOW THE LIST OF FOREIGN FUNDED AND CONTROLLED ACTIVISTS WHO OPERATE SHELL COMPANIES 





Technological advances in e-commerce, the global diversification of financial markets and new financial product developments provide opportunities to launder illegal profit and obscure the money trail leading back to the underlying crime.

FINTRAC's financial intelligence plays a critical role in helping to combat money laundering. This financial intelligence is used to assist money laundering and terrorist financing investigations in the context of a wider variety of criminal investigations, where the origins of the suspected criminal proceeds are linked to drug trafficking, fraud, tax evasion, corruption, and other criminal offences. With these types of crimes, there are victims, there is often violence, and there is real social harm.
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) gathers, analyzes, assesses, and discloses financial intelligence. Originally created in July 2000 to counter suspected money laundering,
FINTRAC receives information on:----
Suspicious transactions
Suspected terrorist property
Large cash transactions
Electronic funds transfer
Cross border currency reporting
Suspicious transactions are  reported by financial entities (banks and financial dealers), money services businesses, life insurance companies and agents, certain government agencies that take deposits (such as Canada Post), accountants or accounting firms, real estate agents and brokers, and casinos.
List of reports filed to FINTRAC:--

Suspicious transaction reports
Large cash transaction reports
Electronic funds transfer reports
Casino disbursement reports


JUST FINING IS NO DETERRENCE.   

CRIMINAL BANK MANAGERS  MUST BE JAILED ..

WE ASK MODI NOT TO PROMOTE ANYBODY TO BANK MANAGER ANK UNLESS HE/ SHE PASSES AN EXAM .  

EXISTING MANAGERS MUST UNDERGO A TWO WEEK  COURSE WITH AN EXAM AT THE END.


I ASK –   WHY DOES IT TAKE A BLOGGER TO WRITE ALL THIS SHIT !     

AS YOU CAN SEE INDIAs NO 1 BEEF EXPORTER KAPIL SIBALs ASS IS ON FIRE !







POEM is an internationally recognised test to determine residence of a company incorporated in a foreign jurisdiction. It works to check companies who set up shell subsidiaries abroad to evade taxes. POEM is effective from 1 April 2016 and accordingly shall apply from assessment year 2017-18 onwards.

Why is POEM important? In short, because if a company’s place of effective management is India, it will be treated as a local resident and its global income will be taxable in the country. POEM is one of three criteria of corporate residency that are widely identified under several jurisdictions. Place of a company’s incorporation (POI) and place of its central control and management (CCM) are the other two.

Almost all jurisdictions that impose tax on corporate entities determine the tax residence of such entities based on one of two types of tests or a combination thereof. The first type is formal and usually based on POI of the company. Under the POI test, for purposes of tax, a corporate entity is resident in the jurisdiction of its incorporation. 

The second type, CCM, and POEM are substantive and based on the ‘real seat’ of the corporation. POM determines whether a company is resident in a particular country. POEM is a tiebreaker test whose purpose is to resolve cases of dual residence by determining in which of the two states it is to be found.


POEM is concerned with what happens in both states since its purpose is to resolve dual residence.






Placing "dirty" money in a service company, where it is layered with legitimate income and then integrated into the flow of money, is a common form of money laundering.

Money obtained from certain crimes, such as extortion, insider trading, drug trafficking, and illegal gambling is "dirty". It needs to be cleaned to appear to have been derived from legal activities so that banks and other financial institutions will deal with it without suspicion. Money can be laundered by many methods, which vary in complexity and sophistication.

Again, --money laundering involves three steps: the first involves introducing cash into the financial system by some means ("placement"); the second involves carrying out complex financial transactions to camouflage the illegal source of the cash ("layering"); and finally, acquiring wealth generated from the transactions of the illicit funds ("integration"). 

Some of these steps may be omitted, depending on the circumstances. For example, non-cash proceeds that are already in the financial system would not need to be placed.

 First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean."

Cash-intensive businesses: In this method, a business typically expected to receive a large proportion of its revenue as cash uses its accounts to deposit criminally derived cash. Such enterprises often operate openly and in doing so generate cash revenue from incidental legitimate business in addition to the illicit cash – in such cases the business will usually claim all cash received as legitimate earnings.

 Service businesses are best suited to this method, as such businesses have little or no variable costs and/or a large ratio between revenue and variable costs, which makes it difficult to detect discrepancies between revenues and costs. 

Examples are parking buildings, strip clubs, tanning beds, car washes ( used in BREAKING BAD ) , and casinos.

Trade-based laundering: This involves under or overvaluing invoices to disguise the movement of money.

Shell companies and trusts: Trusts and shell companies disguise the true owner of money. Trusts and corporate vehicles, depending on the jurisdiction, need not disclose their true, beneficial, owner. Sometimes referred to by the slang term rathole though that term usually refers to a person acting as the fictitious owner rather a business entity

Bank capture: In this case, money launderers or criminals buy a controlling interest in a bank, preferably in a jurisdiction with weak money laundering controls, and then move money through the bank without scrutiny. In recent years, banks and customers have used electronic images of checks to process payments instead of paper checks in an procedure known as remote deposit capture.

The technology allows a check-cashing business in a foreign country to scan a bundle of checks and deposit them at a U.S. bank. The entire process can take just seconds and avoids the hassle of transporting physical checks overseas.

But regulators are concerned that electronic check processing could be exploited by money launderers. Drug cartels, for example, could turn to exchange houses in Mexico to scan images of travelers checks or money orders.

In 2010, Wachovia, which Wells Fargo bought in 2008, agreed to pay $160 million as part of a money-laundering investigation. The Justice Department said some $40 billion moved through the bank from foreign correspondent accounts using remote deposit capture. The deposits, made between 2005 and 2007, included travelers checks and money orders and were not monitored for money laundering..

Real estate: Someone purchases real estate with illegal proceeds and then sells the property. To outsiders, the proceeds from the sale look like legitimate income. Alternatively, the price of the property is manipulated: the seller agrees to a contract that underrepresents the value of the property, and receives criminal proceeds to make up the difference.

Black salaries: A company may have unregistered employees without a written contract and pay them cash salaries. Dirty money might be used to pay them.

Tax amnesties: For example, those that legalize unreported assets in tax havens and cash

In theory, electronic money should provide as easy a method of transferring value without revealing identity as untracked banknotes, especially wire transfers involving anonymity-protecting numbered bank accounts. In practice, however, the record-keeping capabilities of Internet service providers and other network resource maintainers tend to frustrate that intention. 

Cryptocurrencies under recent development have aimed to provide for more possibility of transaction anonymity for various reasons

Today, most financial institutions globally, and many non-financial institutions, are required to identify and report transactions of a suspicious nature to the financial intelligence unit in the respective country. For example, a bank must verify a customer's identity and, if necessary, monitor transactions for suspicious activity. 

This is often termed as "know your customer". This means knowing the identity of the customer and understanding the kinds of transactions in which the customer is likely to engage. By knowing one's customers, financial institutions can often identify unusual or suspicious behaviour, termed anomalies, which may be an indication of money laundering.

Bank employees, such as tellers and customer account representatives, are trained in anti-money laundering and are instructed to report activities that they deem suspicious. Additionally, anti-money laundering software filters customer data, classifies it according to level of suspicion, and inspects it for anomalies. 

Such anomalies include any sudden and substantial increase in funds, a large withdrawal, or moving money to a bank secrecy jurisdiction. Smaller transactions that meet certain criteria may also be flagged as suspicious.. 

The software  flags names on government "blacklists" and transactions that involve countries hostile to the host nation. Once the software has mined data and flagged suspect transactions, it alerts bank management, who must then determine whether to file a report with the government.

1989 Financial Action Task Force on Money Laundering (FATF)

FATF's three primary functions with regard to money laundering are:--

Monitoring members’ progress in implementing anti-money laundering measures,
Reviewing and reporting on laundering trends, techniques, and countermeasures, and
Promoting the adoption and implementation of FATF anti-money laundering standards globally.

The United Nations Office on Drugs and Crime maintains the International Money Laundering Information Network, a website that provides information and software for anti-money laundering data collection and analysis. The World Bank has a website that provides policy advice and best practices to governments and the private sector on anti-money laundering issues
  
Money laundering offences have similar characteristics globally. There are two key elements to a money laundering offence:

The necessary act of laundering itself i.e. the provision of financial services; and
A requisite degree of knowledge or suspicion (either subjective or objective) relating to the source of the funds or the conduct of a client. 

The objective of the criminalisation of money laundering is to take the profit out of crime. The rationale for the creation of the offence is that it is wrong for individuals and organisations to assist criminals to benefit from the proceeds of their criminal activity or to facilitate the commission of such crimes by providing financial services to them.

While terrorists are not greatly concerned with disguising the origin of money, they are concerned with concealing its destination and the purpose for which it has been collected. Terrorists and terrorist organizations therefore employ techniques similar to those used by money launderers to hide their money.

The ability to prevent and detect money-laundering is a highly effective means of identifying criminals and terrorists and the underlying activity from which money is derived. The application of intelligence and investigative techniques can be one way of detecting and disrupting the activities of terrorists and terrorist organizations.

A GOOD FINANCIAL FRAUD EXPERT CAN DO BETTER THAN A SPY AGENT..    IN INDIA CRIMINALS  BORROWED MONEY FROM INDIAN BANKS TO FUND LTTE

A financial institution found to have assisted in laundering money will be shunned by legitimate enterprises.

US PRESIDENT BARACK OBAMAs MOTHER JEWESS ANN DUNHAM WAS A MIDDLEMAN FOR THIS CRIMIINAL BANK BELOW— WHILE PRETENDING TO BE WORKING FOR ADB



An international financial centre that is used for money-laundering can become an ideal financial haven. Developing countries that attract "dirty money" as a short-term engine of growth can find it difficult, as a consequence, to attract the kind of solid long-term foreign direct investment that is based on stable conditions and good governance, and that can help them sustain development and promote long-term growth.

 Money-laundering can erode a nation's economy by changing the demand for cash, making interest and exchange rates more volatile, and by causing high inflation in countries where criminals are doing business.

Most disturbing of all, money-laundering fuels corruption and organized crime. Corrupt public officials need to be able to launder bribes, kick-backs, public funds and, on occasion, even development loans from international financial institutions.

 Organized criminal groups need to be able to launder the proceeds of drug trafficking and commodity smuggling. Terrorist groups use money-laundering channels to get cash to buy arms. 

The social consequences of allowing these groups to launder money can be disastrous. Taking the proceeds of crimes from corrupt public officials, traffickers and organized crime groups is one of the best ways to stop criminals in their tracks.

In recent years, the international community has become more aware of the dangers that money-laundering poses in all these areas and many Governments and jurisdictions have committed themselves to taking action. The United Nations and other international organizations are committed to helping them in any way they can.

Criminals are now taking advantage of the globalization of the world economy by transferring funds quickly across international borders. Money laundering is the process used to disguise the source of money or assets derived from criminal activity. 

Profit-motivated crimes span a variety of illegal activities from drug trafficking and smuggling to fraud, extortion and corruption. The scope of criminal proceeds is significant - estimated at more than 2.3 trillion worldwide each year. 

The process of laundering money may occur in a variety of ways, such as with the shrewd exploitation of a complex, interweaving web of secrecy jurisdictions and/or tax havens, the manipulation of the concept of legal persons and legal arrangements to concoct ‘shell companies’ that can operate as covers for corrupt individuals---

--- the abuse of loopholes in existing anti-money laundering legislation, the weak implementation of these rules, the corruption of authorities; all combined with the profiteer culture of numerous established financial institutions and market insiders in developed economies . 

Tax evasion undermines the efforts of the government to promote welfare and social cohesion; it prevents it from performing its social function. Moreover, it erodes the credibility of democratic institutions, while injuring the trust of citizens in the means and ends of a legitimate, democratic government.

Those who are in a better position to avoid taxation are the people who can siphon their income into foreign banks or jurisdictions, which usually means that they are better-off. 

In avoiding their duties and responsibility vis-á-vis society and the state, the tax evaders are in effect placing a greater burden on those who eventually pay off the effective costs of taxation, who are in their majority, members of the lower and middle parts of the income distribution. 

As such tax evasion fosters or widens social inequality while it produces a de facto division of citizens between privileged and non-privileged.

THIS IS A REASON WHY WE WANT THE GOVT TO GO AFTER INDIANS WHO OPERATE SHELL COMPANIES

Tax evasion provides incentives to established financial institutions as well as authorities or politicians to engage in corrupt activities, in quest of their own enrichment or other benefit.

Financial institutions/banks are interested in increasing their profits by making use of this stream of funds, even if that implies circumventing the existing rules  Authorities may be enticed to turn a blind eye in this process, so that their own position in power may be consolidated.

Low corporate tax rates, a rather minimal corporate tax base and lax supervision in relation to establishing holding companies, are strong incentives for corporations willing to avoid taxation.
Strengthen the requirements on the function of corporate directors. 

Directors should be held accountable for failing to take reasonable steps to prevent money laundering, this should apply regardless of whether they are nominees or not. 

Information of this sort should, for issues of transparency and democratic legitimacy be made publicly available to citizens, so that an additional layer of social scrutiny may be placed over corporations.

 Reconsider and reinforce the rules regarding the due diligence that corporate registries and financial institutions should perform, always on an accurate risk-based approach, in an attempt to verify that all information pertaining to the beneficial ownership is correct and that no margin for fraudulent or corrupt activity is allowed.

 Private entities such as banks must be expected to comply with comprehensive rules on this issue, so that they are fully convinced that they know whom they are dealing with and whether their wealth is of a licit or illicit origin.

ALMOST ALL FOREIGN FUNDED NGOs IN INDIA OPERATE SHELL COMPANIES



Large corporations sometimes use shell companies to hold assets temporarily during complex mergers and acquisitions. But these vehicles are also used to hide the provenance of offshore money held by those looking to evade taxes owed in their home countries. 

This can be done by, for instance, placing bank accounts in the name of "legal owners"—companies, trusts, foundations or combinations of these—rather than natural persons. 

Further down the moral scale, shell companies are popular vehicles for moving and concealing public wealth stolen by officials and politicians (or bribes paid to them), as well as for sanctions-busting, drug-trafficking, arms-dealing and the financing of terrorism.

Many companies list names and phone numbers for its executives, staff, or board of directors on their website or in official documents, because they want customers to see the company as open and accountable. 

But the people running a phantom firm don’t want to be found and instead operate in the shadows—they don’t have websites and create as short of a paper trail as possible.

Companies can list “nominee” shareholders or board members with no visible relation to the actual owner—for instance, a lawyer or a distant relative, or people that can be hired specifically to allow their names to fill in the blanks on these forms. 

They can also list other anonymous companies or trusts in order to make it more difficult to track down the actual owner. The true owners or people in control of the company are often known to no one in the outside world other than—possibly—a law firm or incorporation agent.

Once created, anonymous shell companies do little or no actual business. Instead, they often exist and function entirely on paper, opening bank accounts and owning assets without ever revealing the name of the true person benefiting from its conduct, whether licit or illicit.

All companies should be required to disclose their ultimate, human, beneficial owner(s) when they are created, and this information should be listed in a central registry. Ideally, these registries should be freely available to the public, rather than just to law enforcement so that everyone has the ability to know with whom they are doing business.

THE BENAMI MEDIA OF INDIA RECEIVES FOREIGN FUNDS VIA SHELL COMPANIES


It is alleged that a shell company of NDTV received a three hundred and seventy-five crore rupee loan from a bank at an interest rate of 19%, and within two days 92 crore rupees were diverted to Prannoy James Roy and his wife as interest free loans.   


It is also alleged that the income tax commissioner who discovered this was hounded with the help of former finance minister Chidambaram, and that one of the Enforcement Directorate’s money trails in the 2G spectrum scam leads to NDTV’s doorstep


NDTV , the most hated media in India filed a petition before the National Green Tribunal to stop the Sagarmala project. 

This may merit a full post. 

This mega project consisted of hundred and fifty major projects along India’s coastline, which when they materialized, would save the country an estimated thirty-five thousand crores in logistics while boosting exports by an estimated hundred ten billion dollars and creating an around one crore new jobs. 

It is rather strange for a media outlet, with no expertise in any of the necessary fields, to indulge in such acts.













YES-- 

DESH DROHIS WHO OPERATE SHELL COMPANIES TO RECEIVE FOREIGN FUNDS FOR ANTI-WATAN ACTIVITIES -- WILL SOON GET THEIR DUE

THE NOOSE IS AWAITING !



Statement on the “Illegitimate and Inappropriate Usage of the Provisions Related with Money Bills and Finance Bills by the Government”

More than 200 concerned citizens have expressed concern on the classification of the Finance Bill, 2017 as a "Money Bill" and appealed to Vice Predient Hamid Ansari. The statement is reproduced below:

March 29, 2017
Dear Honourable Chairperson of the Rajya Sabha,

As concerned citizens of India, we are appalled and dismayed at the Government’s use of money bills to push through important legislation that affects all citizens, without requiring approval by both houses of Parliament.

This undemocratic strategy has already been employed in the case of the Aadhaar Bill, even though it contains many provisions that go well beyond issues relating to taxation and money appropriations of the government, which will directly affect every citizen of the country in numerous ways. Despite the fact the millions of citizens will be denied their rights because of this, the Bill makes access to
many essential and other public services contingent on Aadhaar. It is already evident that making it compulsory in food distribution in some states has excluded many needy and deserving citizens without cause. The Bill allows for unprecedented surveillance of every citizen and massive invasion of privacy. These can be used by governments at different levels to target political opponents and dissidents, as well as others. Because it enables data sharing even by private companies, it renders all citizens vulnerable to identity theft, fraud, cyber-piracy, data breaches and other uses of their personal data with very serious security implications. Furthermore, the protections and cybersecurity provisions in the Bill are inadequate and do not meet the standards prevalent in most countries. Despite all these concerns, the Bill will not even be debated in the Rajya Sabha and has not been subject to adequate public scrutiny.

The most recent and alarming case of passing important and far reaching laws in the guise of money bills is the inclusion in the Finance Bill 2017 of some very important features that actually have no place in such a Bill and deserve to be independently discussed and debated. The Bill contains several provisions that will drastically increase “black money” and corruption. An important provision would enable political parties to receive unlimited and anonymous funding from corporate entities and from abroad, and will make electoral bonds anonymous. Since it is well known that political funding is ISSN (Online) - 2349-8846
probably the most important source of corruption in the country making it more opaque flies in the face of claims to greater transparency and will make matters even worse than they are at present with terrible implications for electoral democracy in the future. It is also in complete contrast to the treatment meted out to Non–Governmental Organisations and civil society groups fighting for people’s rights, who are not being allowed to receive legitimate funds on dubious grounds. 

The Finance Bill 2017 also gives sweeping powers without accountability to the Income Tax department, which can encourage extortion at all levels. Such bills, which have serious implications for democratic functioning and financial security of all citizens, require serious and extensive public discussion and debate at all levels, with knowledge of the full implications of all of their provisions. Therefore, they cannot and should not be passed as money bills. We, therefore, appeal to you to at the very least allow extensive and uninterrupted discussions into every aspect of the Bill No. 12-C of 2017 in the Upper House and put all these on
record and do everything else in your power to ensure that the practice of by–passing important bills by illegitimately classifying them as money bills is immediately stopped. We appeal to you to protect the rights and duties of the Upper House and the interests of all the people of India. These bills and the relevant provisions that cannot be described as routine in any sense, must be subject to proper democratic scrutiny in both houses of Parliament.

Signed by,
Aruna Roy, Mazdoor Kisan Shakti Sangathan
Prabhat Patnaik, Professor Emeritus, JNU, New Delhi
Fali Nariman, Eminent Jurist and Senior Advocate, Supreme Court
Jayati Ghosh, Professor, JNU, New Delhi
Zoya Hasan, Professor Emerita, Jawaharlal Nehru University
Anand Teltumbde, Author, Civil Rights Activist and Management Professional
T M Krishna, Musician, Writer, Public Speaker, Activist
Medha Patkar, Narmada Bachao Andolan, NAPM
Mary E John, Centre for Women’s Development Studies, New Delhi
Girish Karnad, Playwright, Actor, Director
EAS Sarma, Former Secretary to the Govt. of India
Deep Joshi, PRADAN
Kalpana Kannabiran, Council for Social Development, Hyderabad
Nikhil Dey, Mazdoor Kisan Shakti Sangathan
Teesta Setalvad, Citizens for Justice and Peace
Ram Puniyani, All India Secular Forum
Wajahat Habibullah, Former Chief Information Commissioner
Prashant Bhushan, Senior Counsel, Supreme Court of India
Nandini Sundar, Professor, Department of Sociology, Delhi University
Trilochan Sastry, Association for Democratic Reforms
Achin Vanaik, Retired Professor, University of Delhi
Yogendra Yadav, President, Swaraj India
Pamela Philipose, Senior Journalist
Jagdeep Chhokar, Association for Democratic Reforms
Harsh Mander, Centre for Equity Studies
Prof. Anandalakshmy, President, Bala Mandir Research Foundation, Chennai
Bezwada Wilson, Safai Karmchari Andolan
Nandita Das, Actor, Writer, Director
Amar Kanwar, Film-maker
Lalit Mathur, Former IAS Officer
Satish Deshpande, Professor, Delhi University
Vrinda Grover, Advocate, Supreme Court of India
Bina Agarwal, Professor of Development Economics
Usha Ramanathan, Independent Legal Researcher, Delhi
Vandana Shiva, Research Foundation for Science Technology and Ecology, Delhi
Mohini Giri, Guild of Service
Annie Raja, National Federation of Indian Women
Manisha Sethi, Jamia Milia Islamia University, Delhi
Sumi Krishna, Writer, Researcher and Teacher, Bengaluru
Reyhan Datta, SOS Children’s Village, West Bengal
Arundhati Dhuru, NAPM, Uttar Pradesh
Sandeep Pandey, Teacher and Activist
Sadanand Menon, Freelance Media Person
Nityanand Jayaraman, Writer, social activist, Chennai
Krishnakant Chauhan, NAPM
Suhas Kolhekar, NAPM
Osama Manzar, Digital Empowerment Foundation
Anjali Bhardwaj, NCPRI
Kavita Srivastava, PUCL Rajasthan
Gabriele Dietrich, NAPM and Pennurimai Iyakkam
Vasanth Kannabiran, Activist and Writer
Sanjay Kak, Film-maker, Delhi
Rohini Hensman, Author and Activist
Mamta Jaitly, Vividha, Jaipur
Kamayani Bali- Mahabal, Jan Swasthya Abhiyan, Mumbai
Bhaskar Prabhu, Mahiti Adhikar Manch, Mumbai and NCPRI
Dunu Roy, Hazards Centre
Rajendra Ravi, NAPM
Swami Agnivesh
Nivedita Menon, Jawaharlal Nehru University
Aditya Nigam, CSDS, Delhi
Daniel Mazgaonkar, Sarvodaya Movement
Pradip Prabhu, Kashtakari Sanghatna
Bela Bhatia, Researcher, Activist, Chhattisgarh
Sudhir Vombatkere, NAPM
Irfan Engineer, Centre for Study of Society and Secularism
Anupam Saraph, Innovator and Thought Leader
Dyuti, Researcher, Delhi
Raksha Kumar, Independent Journalist
Neha Dixit, Independent Journalist
Laxmi Murthy, Journalist, Bangalore
Vipul Mudgal, Common Cause
Amrita Johri, NCPRI
Revati Laul, Independent Journalist and Film-maker
Annie Thomas, Journalist, Chennai
Gopal Krishna, Citizens Forum for Civil Liberties
Aruna Burte
Rina Mukherji, Independent Journalist, Kolkata
Radhika Desai
Radha Holla Bhar, Independent Researcher
Manoj Mitta, Independent Journalist
Arun Gupta, International Baby Food Action Network
Amrita Shodhan
Kiran Shaheen, Activist, Delhi
Rita Anand, Editor, Civil Society
Panchali Ray, Jadavpur University
Mohan Rao, Professor, JNU, New Delhi
James Pochury, Delhi
Aruna Rodrigues, Madhya Pradesh
A Mani, University of Calcutta
Farah Naqvi, Independent Writer & Activist
Rajni Palriwala, Professor, Dept. of Sociology, Delhi University
Wilfred Dcosta, Indian Social Action Forum, New Delhi
Snehlata Gupta, University of Delhi
Vickram Krishna
Indu Prakash Singh, Activist, Delhi
Linda Chhakchhuak Jayanti Banerjee Dipak Dholakia
Bhavani, M S Swaminathan Research Foundation
Sharad Lele, Bangalore
Subhash Gatade, New Socialist Initiative
Virginia Saldanha, Indian Christian Women’s Movement
Ammu Joseph, Journalist, Bangalore Anita Cheria, OpenSpace, Bangalore
Chhaya Datar
R Padmini, Child Rights Trust, Bangalore
Jhuma Sen, Asst. Prof., O P Jindal Global University
Niti Saxena
Richa Singh, Sangtin Kisan Majdoor Sangthan
Nazariya Foundation, New Delhi
Ramshanker Tiwari, Retd. Labour Commissioner (Central)
Svati Joshi, Academic, Formerly with the Delhi University
Karuna D W, Researcher, Chennai
Shashank Kela, Writer, Chennai
Astrid Lobo, Satyashodhak and Indian Christian Women’s Movement
Chayanika Shah, Forum Against Oppression of Women, Mumbai
Rakhi Sehgal, Labour Activist, Delhi
Seema, Bhopal
Vandana Mahajan, Independent Practitioner
Kalpana Mehta, Indore
Sherna Gandhy, Pune
Roshmi Goswami
Madhu Sarin, CSD, Chandigarh
Ammu Abraham, Forum Against Oppression of Women, Mumbai
Anubha Rastogi, Advocate, Mumbai
Ritu Dewan
Madhu Mehra, Lawyer, New Delhi
Suniti, NAPM
Meera Sanghamitra, NAPM Sharanya, Humane, Koraput
Kalyani Menon Sen, Feminist Learning Partnerships
S. Anandhi, Associate Prof., Madras Institute of Development Studies, Chennai.
Sejal Dave, ANANDI
Qaneez Sukhrani, Association of Nagar Road Citizens’ Forums, Pune
Sujata Patel, President, Indian Sociological Society
Stan Swamy Bagaicha, Ranchi, Jharkhand
Prakash Burte
Anwar Jafri, Samavesh, Madhya Pradesh
Suneeta Dhar, Activist, New Delhi
Sheetal Sharma, North East Network, Assam
Padmaja Shaw, Retd. Professor, Osmania University
Wilson Naik Rathore, Hyderabad University
Nitya Ghotge, Pune
Shobha, Human Rights Activist, Bangalore
Mira Shiva, Coordinator, Initiative for Health & Equity in Society
Malini Manjoly, Bihar
Sobha Rani, University of Hyderabad
Manjari Katju, University of Hyderabad
Varghese Theckanath S.G., Montfort Social Institute, Hyderabad
Vikram Vyas, Ajit Foundation Science Centre
Vinatha Viswanathan
Indira C, Public Health Researcher, Delhi
Anuradha Kapoor, Kolkata
Neeraj Malik, former professor, Delhi University
Javed Malick, former professor, Delhi University National Fedn of Indian Women
Payal Dhar, New Delhi
Aheli Moitra, The Morung Express, Nagaland
Koninika Ray, National Federation of Indian Women
Padma Velaskar, Retd. Prof., TISS, Mumbai
Sadhna Arya, University of Delhi
Abha Bhaiya, Activist
Monisha Behal, Activist
Aravinda Potluri, Independent Solidarity Activist A.Suneetha, Senior Fellow, Anveshi, Hyderabad
Ashish Kothari, Kalpavriksh, Pune
Shweta Rao, Delhi
Aditi Chanchani, EQUATIONS
 Satinath Sarangi, Bhopal Group for Information and Action
 Rashida Bee & Champa Devi Shukla, Bhopal Gas Peedit Mahila  Sangh
Nawab Khan, Bhopal Gas Peedit Mahila Purush Sangharsh Morcha
Balkrishna Namdeo, Bhopal Gas Peedit Nirashrit Pensionbhogee Sangharsh
Saheli Women's Resource Centre, New Delhi 
Alok Prasanna Kumar, Advocate, Supreme Court
Madhuresh Kumar, NAPM
Aniket Alam
Nandini Rao, Activist, Delhi
Shakil Nazim, Former Officer, Govt. of Rajasthan
Col. Pavan Nair VSM (Retd.), Trustee Jagruti Seven Sanstha, Pune
Aruna Chandrasekhar, Independent Journalist
Alamu R, Jawaharlal Nehru University
M.G.Devasahayam, Convener, Forum for Electoral Integrity, Chennai
Geeta Seshu, Independent Journalist, Mumbai
Anuradha Kapoor, Swayam, Kolkata
Brinelle D'Souza, Faculty, Tata Institute of Social Sciences
Sangeeta Chatterji
Sharmila, Department of HSS, IIT Bombay
Olga Netto, ICWM, Mumbai
Madhusree Mukherjee, Kolkata
Madhu Bhushan, Independent Activist, (Re)searcher, Writer, Bangalore
Dr. Amar Jesani, Mumbai
R. Krishnaswami, Erode, Tamilnadu
Dr.Murali Lingam, Popular Hospital, Bangalore
Philomena D'Souza, Nashik
Vahida Nainar
Devvrat, Advocate, Supreme Court
Mahi Pal Singh, Indian Radical Humanist Association
Rachael Alphonso, ICWM and Green Madcaps
Bhanwar Meghwanshi, Journalist, Author and Dalit Activist
Preeti Sampat, Academic, Ambedkar University, Delhi
Simpreet, Mumbai, TISS
Radhakant Saxena, PUCL, Rajasthan
Prem Shankar Sharma, PUCL, Rajasthan
K. Saradamoni and G. Asha
Jagdish Patel, Peoples Training and Research Centre, Vadodara
Saikat Ghosh, Assistant Professor, IIT-Kanpur
Dr. Shaikh Ghulam Rasool, Chairman J&K RTI Movement
Pushkar Raj, New Delhi
Kaushik Ghosh, The University of Pennsylvania, Philadelphia, USA
Sudeshna Sengupta
Yug Mohit Chaudhary, Senior Advocate, Mumbai High Court
Pandav Nayak, IGNOU, New Delhi
Rakesh Ganguli, Development Practitioner, Maharashtra
Battini Rao, Progressive Organisation of People
Dr.G.Vijay, Assistant Professor, School of Economics, University of Hyderabad
and many more

WE KNOW THE PEOPLE IN THIS LIST ( AND COMMIE PROFESSORS OF JNU / DU / JU / FTII / TISS ) WHO LIVE FAR BEYOND THEIR KNOWN SOURCES OF INCOME


INDIA IS IN THIS SORRY STATE BECAUSE OUR MAIN STREAM MEDIA DO NOT HAVE ANY LOYALTY TO THE WATAN. 

THEY ARE WHORES WHO SELL THEIR LOYALTY TO THIS HIGHEST BIDDER. 

COMMIE JNU STUDENTS WERE ABSORBED IN CRITICAL AREAS OF FINANCE DEPARTMENTS .  THESE ARE TRAITORS.

DO WE HAVE ANY INVESTIGATIVE JOURNALISM IN INDIA? 

IS “STING” WITH A HIDDEN CAM INVESTIGATIVE JOURNALISM ?

EVEN AN ILLITERATE  HALFWIT BEGGAR ON THE STREET CAN DO THIS.

HAVE YOU SEEN MAHAMERU ECONOMISTS ON INDIAN TV ?

NONE OF THEM KNOW ECONOMICS.   THE MORE THEY OPEN THEIR MOUTH THE MORE THEY SINK INTO THE PITS.

I ASK

OTHER THAN CAPT AJIT VADAKAYIL ( MERE BLOGGER ) ,  HOW MANY ECONOMISTS IN INDIA OR ABROAD TOLD THAT DEMONETIZATION WONT HAVE ANY EFFECT IN INDIAN GDP GROWTH ?

THIS IS AS STUPID AS ME HAVING TO CONVINCE RUSSIANS AFTER USSR BROKE UP-
( THEY WERE UPSET THAT THERE IS NO MILK IN THE MARKET )    

I HAD TO TELL THEM—LISTEN, YOUR COWS ARE STILL WHERE THEY ARE , IN YOUR OWN COUNTRY .  THEY HAVE NOT RUN AWAY TO ANOTHER COUNTRY .. 

THEY ARE STILL GETTING MILKED—ONLY THING IS YOU ARE NOT GETTING IT ON YOUR TABLE. 

THEY INSTANTLY APPRECIATED MY CLEAR THINKING .   

THINKING IS THE HARDEST THING TO DO, RIGHT ?



Viktor Anatolyevich Bout  is a Tajik arms dealer. He used shell companies to supply arms all over the planet

In  2011, he was convicted by a US federal court of conspiracy to kill U.S. citizens and officials, delivery of anti-aircraft missiles, and providing aid to a terrorist organizations..

The Hollywood movie Lord of War ( Nicholas Cage  is based on  Bout's personal history and black-market activities using hundreds of  SHELL companies..

Before his arrest in March 2008, Viktor Bout, shadowy international arms dealer and war profiteer, ran a network of air cargo companies that specialize in transporting arms to conflict zones.

Bout controlled the world's largest private fleet of Antonov cargo planes with heavy airlift capacity, capable of bringing tanks and other heavy arms into difficult terrain. He has fueled dozens of the world's most murderous conflicts by shipping arms clandestinely to rebel groups.

His field of operations included Afghanistan, Angola, Congo, Liberia, Pakistan, the Philippines, Rwanda, Sierra Leone, and Sudan. The US and UK reputedly have used Bout's services to bring shipments into dangerous zones of Iraq.   

Bout’s  companies have conducted countless trips for the United Nations ( for Jews to steal )  into the same areas where he supplied the arms that fueled the conflicts and humanitarian crises to begin with.   He has airlifted Belgian peacekeepers into Somalia, brought French troops into Rwanda..

Viktor Bout has been able to operate with impunity thanks to his many passports, different identities, and the wide support he enjoys from those in power.

In March 2008, Bout was arrested in Bangkok, while attempting to sell arms to US investigators posing as Colombian FARC rebels. The US government sought Bout’s extradition on charges of conspiring to sell weapons to a terrorist organization for use in killing Americans. 

For nearly two decades, as Bout grew infamous as the "Merchant of Death" – his unwanted nickname for the black-market weapons deals of which he was accused but long denied – the world he inhabited remained murky to outsiders.

More than 70 transcripts compiled from wiretapped meetings and conversations and scores of phone calls and text messages depict everything from his preference for lemon in tea to his use of memory cards in cell phones to disguise the trail of his phone calls.

A U.S. official said that Bout’s seized computer also contained evidence that the Russian's business empire had set up hundreds of shell companies around the world for his air cargo and other business ventures, stretching from remote South Pacific islands to the state of Montana.

After the collapse of the Soviet Union, Bout, a former Soviet military officer, made his fortune selling Soviet-era weaponry to Third World despots and insurgent groups.

Bout dispatched fleets of Cold War-era Soviet cargo planes to some of the most inhospitable corners of the earth, running guns for dictators, including Liberia's Charles Taylor and Zaire's Mubuto Sese Seko, as well as rebel leaders in Angola, Sierra Leone and beyond.

The indictment cites 15 aviation companies that Bout owned, including Air Cess, Irbis Air Company and Santa Cruz Imperial.. Bout's payments  included diamonds. Bout also allegedly trafficked arms for the Taliban, and his aviation services were so vast that the Pentagon contracted one of his companies to deliver goods into Iraq from 2003 to 2005.

See Pentagon deals only with GOOD people and drop only GOOD BOMBS. U.S. government contractors paid Bout-controlled firms roughly $60 million to fly supplies into Iraq in support of the U.S. war effort, according to a book about Bout called "Merchant of Death: Money, Guns, Plans, and the Man Who Makes War Possible..

Bout supplied armor-piercing missiles to Hezbollah in the summer of 2006 and arms to Somali warlords.

Bout was able to do business largely thanks to a sprawling network of shell companies.   Bout maintained absolute control over these accounts, but no links to Bout could be found.

ARMS DEALERS CANNOT WORK WITHOUT SHELL COMPANIES


IN INDIA WE ARE STILL FRETTING AND  SWEATING OVER THE PURULIA ARMS DROP WHICH HAPPENED 22 YEARS AGO ..    PATHETIC !


WHY IS THE MODI GOVT ALLOWING RAJYA SABHA MEMBERS TO AMEND FINANCE BILL ?

DONT THEY KNOW RAJYA SABHA HAS NO POWERS ON FINANCE ?

WHY DID THE RAJYA SABHA SPEAKER ALLOW DISCUSSIONS ON FINANCE BILL?

IF THE RAJYA SABHA SPEAKER DOES NOT KNOW THE RULES UNDER THE CONSTITUTION --WE THE PEOPLE DEMAND HIS EXPULSION .




  1. POOR BASTARD MEDIA WHORES

    THEY DONT KNOW ASSHOLE FROM ELBOW !

    THEY ONLY KNOW BOLLYWOOD, CRICKET AND CHOOTIYA POLITICS
https://www.thequint.com/india/2017/03/30/farhat-naik-renowned-islamic-preacher-zakir-naik-better-half-islam-preacher

MIYA AUR BIWEE -- BOTH RUN SHELL COMPANIES

WAAH RAAJAAA WAH 



Even when the criminals behind the shell companies get caught, the registered agents who help set them up are often left untouched -- and many continue to rake in money by registering fronts for potentially dangerous criminals. shell companies pose a threat to national security and make it nearly impossible to find the people who are actually financing terrorism and other criminal activities.  

The smartest criminals use shell companies in conjunction with their actual  actual business operations to further confuse authorities and create a false sense of legitimacy. 

The family behind Peruvian drug trafficking ring Sanchez-Paredes, for example, allegedly used a complicated combination of shell companies -- a few of which were located in Florida -- and gold mines in Peru "to layer and disguise the family's illegal cocaine proceeds for decades.. 

Luka Bojovic -- previously one of Serbia's most wanted criminals -- was reportedly involved with the assassination of Serbia's prime minister, while Darko Saric was charged by the Serbian government with trafficking more than 5,000 kilograms of cocaine.

Several of the shell companies allegedly used by these mobsters can be traced to the same registered agent: a Delaware firm named Harvard Business Services, which says on its website that it will help form more than 10,000 companies this year alone.

Harvard Business Services, has nothing to do with Harvard University

In one of the more creative schemes, the ruthless Los Zetas drug cartel used a horse ranch and a number of shell companies to conceal millions of dollars in drug money.

Here's how the money laundering operation worked:--
Jose Trevino Morales, the brother of two Los Zetas leaders -- one of whom reportedly dismembered his victims while they were still alive -- owned a horse ranch in Oklahoma where he claimed to be running a prosperous business of buying and selling race horses.

But in reality, most of the deals he made had nothing to do with horses -- some of which were fittingly named "Number One Cartel" and "Morning Cartel." In order to cover up and transfer illegal drug proceeds and make the money appear to be "clean," he and his associates would funnel it through shell companies and front men under the guise of horse sales -- making sure the cartel leaders' names were nowhere to be found.

In the end, investigators discovered that more than $22 million in drug money had been sent back to Mexico. Trevino was convicted of money laundering in 2013 and sentenced to 20 years in prison.




 Investigative journalism is of paramount importance in combating financial fraud  regard, as it performs the function of not only revealing existing crime or mischief, but also of as a DETERRENT to possible future crime. The sources of investigative journalists should at all times be kept secret in order not to jeopardise ongoing investigations and not to discourage future ones.
Proactive support of investigative journalism in these times of technological and economic transition should be considered as an amiable end, especially in respect to its crime- and corruption containing impact.   In addition, whistleblowers involved in the efforts to unearth graft andcorruption, incompetence of authorities and/or malpractices of private entities, should at all times enjoy all necessary protection and support.
Anti-money laundering and tax havens---
As there are substantial similarities between the techniques used to launder the proceeds of crime and to commit tax crimes, in May 1998 the G7 Finance Ministers encouraged international action to enhance the capacity of anti-money laundering systems to deal effectively with tax-related crimes.
In this respect the OECD's Committee on Fiscal Affairs has established a dialogue with the Financial Action Task Force and continues to examine ways of improving co-operation between tax and anti-money laundering authorities.
Joint workshops with tax and anti-money laundering officials have been held allowing experts to share experiences on some of the practices that are common to both tax evasion and money laundering. OECD work on tax crime and money laundering is designed to complement what has already been carried out by FATF.
Tax evasion and/or the unscrupulous misuse of legal loopholes in cross-border tax legislation further undermine the state's fiscal position, while it produces incentives for socially-detrimental profiteering in times of an economic downturn, it increases the chances for the corruption of officials and/or financial corporatists willing to circumvent or disobey existing rules and prevailing principles, therefore initiating a vicious cycle of mischief and illegitimacy.
The invidious effects of tax-related crime are multi-faceted, ranging from criminality to corruption, to social injustice and asymmetric, distortive economic activity. To make matters worse, such crimes also have a more profound and corrosive effect on the institutional milieu of the polity, as they erode the trust and faith citizens have in democratic institutions and in the capacity of a directly elected government to improve the life of its citizens.


A potential terrorist cannot take a flight to neighboring states without a passport or driver’s license, but they can form a shell company without any information in a matter of minutes.




The life-blood of an effective terrorist network is financing. And shell companies facilitate the easy distribution of money.


If we want to fight terrorism effectively, we should also be cracking down on terrorism financing. Given the ease and persistence of terrorist financing – particularly using shell companies – a shift in attention on financial regulations that would stop terrorism financing would be a good start.
The United States has implemented a host of measures, including the use of “terrorist designations” and Suspicious Activity Reports (SARs), to root out and eliminate risks in our financial institutions.

However, none of these regulations have been enacted by Congress, (  thanks to Jew Rothschild’s clout ) and so they are not binding to U.S. states.

Investigators found that  some firms were more likely to offer their assistance when we posed as terrorists than when we posed as businesses from USA ..

The common link among these individuals in Panama papers  is that they used shell companies and offshore accounts to shield their wealth from their home governments.

There is grave concern about fairness, international tax schemes and shell companies. A particular focus of the current investigation is the widespread use (and abuse) of anonymous shell companies.


THIS POST IS NOW CONTINUED TO PART 32, BELOW--





CAPT AJIT VADAKAYIL
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