The Financial Action Task Force 348d ago

The FATF and the Organisation for Economic Co-operation and Development (OECD) completed a project to explore the money laundering and financial crime risks associated with citizenship and residency by investment (CBI/RBI) programmes. This includes risks related to foreign bribery, fraud and corruption, and their impact on public integrity, tax and migration. The FATF-OECD report highlights how CBI programmes can allow criminals more global mobility and help them hide their identity and criminal activities behind shell companies in other jurisdictions. It highlights the vulnerabilities of these complex and international investment migration programmes, including the frequent use of intermediaries, involvement of multiple government agencies, abuse by professional enablers and lack of proper governance of the CBI/RBI programmes. The report proposes measures and cites examples of good practice that can help policy makers and those responsible for managing the investment migration programmes to address these risks. For more information, and to download the report, see: https://www.fatf-gafi.org/content/fatf-gafi/en/publications/Methodsandtrends/misuse-CBI-RBI-programmes.html