Shell game: Lax US business laws aid global criminals 

WHAT: Many billions of dollars from

criminal activities are easily laundered in U.S. shell corporations. States are encouraged by big businesses to compete in attracting more incorporations by offering strong anonymity among other benefits.

HOW: State-to-state incorporation requirements are slipshod and uncoordinated. Only Alabama and Alaska even bother asking the real owners’ names. Anonymous corporations can open U.S. bank or brokerage accounts and obtain credit cards.

WHY IT’S OUTRAGEOUS: Law enforcement officials complain that many investigations fail because criminals vanish behind mazes of perfectly legal shell corporations. The U.S. might be the easiest nation for laundering dirty money.

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Staff Report

Staff Report

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A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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