How do shell companies help with money laundering?
In: 70
It obscures the source of the income. If I own a steel company in western Pennsylvania, the US government can easily track what my business does. If I own a steel company in Western Sahara, it’s a lot harder to know where funds are genuinely coming from. Then you just add layers. My St Lucian management company owns a Nepalese steel group that owns and operates a number of steel mills worldwide.
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