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Bank and corporate secrecy laws, offshore vehicles and merchant accounts in offshore


Cyprus Company Formation
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Dec 30, 2008
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Banks corporate secrecy laws typically impose civil and criminal penalties for unauthorized disclosure of confidential information, including information on the beneficial ownership and control of corporate vehicles. These laws diminish the capacity of authorities to obtain and share beneficial ownership and control information when they not provide mechanisms for domestic and international authorities fulfilling their [...]

This is true, however, in the wake of money laundering issues, local central banks around the world are imposing tighter controls and more identity requirements for bank accounts. Most banks however, especially Swiss banks, maintain their integrity in the confidentiality of client information.

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