Also @MKSolicitors is not impressed with @fichtner_jan @javiergb_com 's 'Sinks and Conduits' paper http://www.fcpablog.com/blog/2017/9/19/martin-kenney-academics-skew-picture-of-bvi-and-other-offsho.html … (lesson: researchers should talk to practitioners more)
He seems to equate 'layers' of holding companies, use of intermediaries etc.. with the money laundering concept of layering (converting dirty money into assets which look clean). (this is a bad idea to confuse/conflate)
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Also its a bit breathless. Of course multinationals, PEPs, HNWIs use intermediaries to 'leverage their interests' - we all use intermediaries - banks, supermarkets, pension funds, utility companies, travel agents etc...the big question remains legal or illegal?pic.twitter.com/3Frbzd43PN
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The big question is NOT 'legal' or 'illegal' - a highly reductive misconception. Just as
@anticorruption acknowledges, our issue is with structures that are (today) legal. Legality is not the only predicator for wrongdoing or systematic obfuscation. - 1 more reply
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I think you're misrepresenting my argument here, as well as misdefining 'layering'. Here, you've given the textbook definition of 'laundering'
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"The practice of layering, in anti-money laundering parlance..." & your link suggests you are referring to the 2nd stage in money laundering as in "placement, layering and integration"
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