Shell Companies

Defining the Shell Companies...

The purpose of this article is Defining Shell Companies...

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Overview of FinCEN’s Beneficial Ownership Reporting Rule

The Final Reporting Rule, which implements Section 6403 of the Corporate Transparency Act (CTA), has been amended in certain ways by this final rule....

US Senate Votes on Anti-Money Laundering Act 2020: Tackling Anonymous ‘Shell Companies’ for Greater Financial Transparency

The Anti-Money Laundering Act of 2020, an amendment to the National Defense Appropriations Act, is up for a vote in the US Senate this...

Understanding Ultimate Beneficial Ownership: Why are companies required to register their UBO?

Who is considered a beneficial owner? The definition of beneficial owner changes according to the geographies. But by and large, it refers to the person...

Revealed: A simple technique to beat FATCA reporting

What are Shell Banks? The concept of shell banks is quite similar to that of shell companies. Shell banks are banks that do not have...

More Shell companies on SFIO Radar

In an interesting development, the Ministry of Company Affairs which governs the registrations of the companies in India identified 18 more companies which are...

How did Indian Government Zeroed on only 6000 companies as Shell

Shell Companies is a Buzz word in the Indian compliance professionals. There is significant activity in the Indian Corporate world. The Revenue authorities have...

Forensic Audits ordered for 3 more companies

Regulator Securities and Exchange Board of India (SEBI) has ordered an audit of three more firms Mumbai Based Indian Infotech and Software, which was...

Stock Market Regulator of India orders Forensic Audit of Shell Companies

India's Stock Markets regulator, Securities Exchange Board of India (SEBI) has ordered forensic audit of three firms Mumbai Based Trinity Tradelink, Chennai based Info–Drive...

40% SEBI Banned Shell Companies are traced in Kolkata

Indian Securities regulator imposed restrictions on 331 shell companies, out of which more than 40% are registered in Kolkata alone. Why Kolkata ? Kolkata is a...
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