Estate Island Marshall Real
M) Money Laundering and Financial Crimes
Marshall Island non-resident corporations (NRCs), the equivalent of international business companies (IBCs), are of the greatest concern with respect to money laundering. By December 2000, there were reportedly 4000 NRCs registered, half of which are companies formed for registering ships. NRCs are allowed to offer bearer shares. Corporate officers, directors, and shareholders may be of any nationality and live anywhere. NRCs are not required to disclose the names of officers, directors and shareholders or beneficial owners and corporate entities may be listed as officers and shareholders. The authorities also do not actually possess the relevant information on non-resident companies. Although NRCs must maintain a registered office in the Marshall Islands, corporations can transfer domicile into and out of the Marshall Islands with relative ease. Marketers of offshore services via the Internet promote the Marshall Islands as a favored jurisdiction for establishing NRCs. NRCs are prohib ... [Read More]
Outline of American History - Chapter 5
Marshall was the first in a long line of Supreme Court justiceswhosedecisions have molded the meaning and application of theConstitution.When he finished his long service, the court had decided nearly50cases clearly involving constitutional issues. In one ofMarshall'smost famous opinions -- Marbury v. Madison (1803) -- hedecisivelyestablished the right of the Supreme Court to review theconstitutionality of any law of Congress or of a statelegislature. In ... [Read More]
Money Laundering and Financial Crimes
Marshall Island non-resident corporations (NRCs)-the equivalent of international business companies (IBCs)-are of the greatest concern. The Association Law of the Republic of the Marshall Islands of 1990 is the legislative basis for establishing NRCs, of which, by December 2000, there were reportedly 4000 registered, half of which are companies formed for the purpose of registering ships. NRCs are allowed to offer bearer shares. Corporate officers, directors, and shareholders may be of any nationality and live anywhere, and their names need not be disclosed on incorporation records. Corporate entities may be listed as officers and shareholders and although NRCs must maintain a registered office in the Marshall Islands, the Associations Law of 1990 allows for corporations to transfer domicile into and out of the Marshall Islands with relative ease. Marketers of offshore services via the Internet promote the Marshall Islands as a favored jurisdiction for establishing NRCs. All NRCs are f ... [Read More]
Background Notes Archive - East Asia and the Pacific
U.S. Department of StateBackground Notes: Australia, May 1996Bureau of East Asian and Pacific AffairsPrepared and released by the Bureau of East Asian and Pacific Affairs, Office of Australia and New Zealand AffairsMay 1996Official Name: Commonwealth of AustraliaPROFILEGeographyArea: 7.7 million sq. km. (3 million sq. mi.); about the size of the 48 continental United States.Cities: Capital--Canberra (pop. 310,100). Other cities--Sydney (3.7 million), Melbourne (3.1 million), Brisbane (1.3 million), Perth (1.2 million).Terrain: Varied, but generally low-lying.Climate: Relatively dry, ranging from temperate in the south to tropical in the north.PeopleNationality: Noun and adjective--Australian(s).Population (1995): 18.2 million.Annual growth rate: 1.1%.Ethnic groups: European 94%, Asian 5%, Aboriginal 1%.Religions: Anglican 24%, Roman Catholic 26%.Languages: English.Education: Years compulsory--to age 15 in all states except Tasmania, where it is 16. Literacy ... [Read More]
Authentication of Documents For Use Abroad
U.S. Department of State [Read More]
Background Notes Archive - East Asia and the Pacific
U.S. Department of State Background Notes: Australia, November 1997 Released by the Bureau of East Asian and Pacific Affairs.Official Name: Commonwealth of AustraliaPROFILEGeographyArea: 7.7 million sq. km. (3 million sq. mi.); about the size of the 48 continental United States.Cities: Capital--Canberra (pop. 310,100). Other cities--Sydney (3.7 million), Melbourne (3.1 million), Brisbane (1.3 million), Perth (1.2 million).Terrain: Varied, but generally low-lying.Climate: Relatively dry, ranging from temperate in the south to tropical in the north.PeopleNationality: Noun and adjective--Australian(s).Population (1997): 18.3 million.Annual growth rate: 1.3%.Ethnic groups: European 92%, Asian 7%, Aboriginal 1%.Religions: Anglican 26%, Roman Catholic 26%, other Christian 24%, non-Christian 11%.Languages: English.Education: Years compulsory--to age 15 in all states except Tasmania, where it is 16. Literacy--99%.Health: Infant mortality rate--6/1,000. Life expect ... [Read More]
Country Reports: G-M
Gabon Gabon is not a regional financial center. The Bank of Central African States (BEAC) supervises Gabon’s banking system. BEAC is a regional Central Bank that serves six countries of Central Africa. According to a 2003 letter from the Government of Gabon (GOG) to the UN Counter Terrorism Committee, in matters concerning suspicious financial transactions, banks are bound by the instructions of the Ministry of Economic and Financial Affairs. The actual monitoring of financial transactions is conducted by the Economic Intervention Service that harmonizes the regulation of currency exchanges in the member States of the Central African Economic and Monetary Community (CEMAC). On November 20, 2002, the BEAC Board of Directors approved draft anti-money laundering a ... [Read More]
Taiwan
Macedonia, the Marshall Islands, Nicaragua, Nigeria, Panama, ... and real estate development, brokerage and leasing and ... in property, both chattel and real, are recognized and ... [Read More]
Money Laundering and Financial Crimes
Marshall Islands (Concern). The Republic of the Marshall Islands is a constitutional government in free association with the United States. Comprising a collection of atolls and reefs in the north Pacific equidistant from Hawaii and Indonesia, the Marshall Islands has maintained a relatively low international profile. The Marshall Islands has been the focus of increased international attention with the development of its offshore sector, which is managed by a U.S.-based company. Non-resident corporations (NRCs)-the equivalent of international business companies (IBCs)-have been linked to the laundering of criminal proceeds from Russia and other jurisdictions. In 1999, the Russian Central Bank instituted regulatory measures to scrutinize offshore financial transactions involving the Marshall Islands and other offshore financial centers to prevent illegal financial transactions. Features of NRCs make them ideal vehicles for money laundering. ... [Read More]
International Narcotics Control Strategy Reports
US DEPARTMENT OF STATEBUREAU OF INTERNATIONAL NARCOTICS MATTERSINTERNATIONAL NARCOTICS CONTROL STRAGEGY REPORTAPRIL 1994FINANCIAL CRIMES AND MONEY LAUNDERING1994 INTERNATIONAL NARCOTICS CONTROL STRATEGY REPORTINTERNATIONAL MONEY LAUNDERINGOVERVIEWIntelligence findings from North and South America, Eastern and Western Europe, South and East Asia, Africa and the Middle East confirm that another significant shift has occurred in money laundering trends and methods, requiring changes in policy and strategy for 1994.The critical aspects are the volume of non-drug related money laundering; increased investment of illegal proceeds in legitimate business, including the financial industry; and the targeting of financial systems in countries/territories (some with little or no domestic involvement in drug trading or other serious proceeds-generating crimes) to launder drug and other proceeds generated by crimes committed in other jurisdictions.In 1988, when the United Nations Convention was ... [Read More]
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