Whitecaps

Commentary and information about public safety and security, intelligence and counterintelligence, open government and secrecy, and other issues in northern Idaho and eastern Washington.

Name:
Location: Coeur d'Alene, Idaho, United States

Raised in Palouse, WA. Graduated from Washington State University. US Army (Counterintelligence). US Secret Service (Technical Security Division) in Fantasyland-on-the-Potomac and Los Angeles. Now living in north Idaho.


Sunday, March 18, 2007

Misuse of Corporate Vehicles

"Corporate vehicles" does not refer to Fords, Chevrolets, Toyotas, Mercedes-Benz, Beemers, or any other motor vehicles.

"Corporate vehicles" refers to legal entities, including corporations, trusts, foundations and partnerships with limited liability. These corporate vehicles can and are used to launder assets in support of drug trafficking, terrorism, and public corruption.

How the assets are laundered is the subject of a report titled The Misuse of Corporate Vehicles Including Trust and Company Service Providers.

The report was produced in October 2006 by the Financial Action Task Force on Money Laundering (FATF). The FATF "...was established by the G-7 Summit that was held in Paris in 1989. Recognising the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member States, the European Commission, and eight other countries."

If you read nothing else in the study, read the Introduction and the Glossary. And don't be put off by the fact that the FATF is an international organization. The misuse of corporate vehicles is occurring in many communities in the United States.

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