In Europe, I can see that almost no bank accounts of Russian Oligarchs are frozen.
This was confirmed in the news.
EU struggles to ‘freeze and seize’ the wealth of Russia’s oligarchs - National | Globalnews.ca
So, this raised my interest because nowadays, the EU has implemented many AML/KYC rules in Europe. Many EU countries also implemented an Ultimate beneficial owner registry. Some years ago, many countries signed for the automated exchange of data (foreign owner of bank account). For example, Cyprus has an ultimate beneficial owner registry which should help identify the real owner of bank account. However, No Russian oligarchs saw its bank account seized in Cyprus, Malta, Bulgaria, the UK, Gibraltar.
It means that their actual setups are robust. I have heard that in France, many state workers in the minitry of finance look for Oligarch assets. They didn't find a single account owned by an Oligarch.
What do you think?
This was confirmed in the news.
EU struggles to ‘freeze and seize’ the wealth of Russia’s oligarchs - National | Globalnews.ca
So, this raised my interest because nowadays, the EU has implemented many AML/KYC rules in Europe. Many EU countries also implemented an Ultimate beneficial owner registry. Some years ago, many countries signed for the automated exchange of data (foreign owner of bank account). For example, Cyprus has an ultimate beneficial owner registry which should help identify the real owner of bank account. However, No Russian oligarchs saw its bank account seized in Cyprus, Malta, Bulgaria, the UK, Gibraltar.
It means that their actual setups are robust. I have heard that in France, many state workers in the minitry of finance look for Oligarch assets. They didn't find a single account owned by an Oligarch.
What do you think?
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