The Puppet Masters : How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It
This report, the puppet masters, deals with the corporate and financial structures that form the building blocks of hidden money trails. In particular, it focuses on the ease with which corrupt actors hide their interests behind a corporate veil an...
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20111104035215 http://hdl.handle.net/10986/2363 |
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okr-10986-2363 |
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| recordtype |
oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
ABUSE ACCOUNTABILITY ACCOUNTING ACQUISITION ADVERTISEMENT ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION COMMISSIONS ARTICLES OF INCORPORATION BANKS BENEFICIAL OWNER BENEFICIAL OWNERS BENEFICIARIES BENEFICIARY BIDDING BOARD MEMBERS BRIBE BRIBERY BUSINESS CORPORATION BUSINESS RELATIONSHIP BUSINESSES CASH PAYMENTS CERTIFICATE CHARTER CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER CIVIL SOCIETY CLAIM COLLECTION OF INFORMATION COLLECTIVE COMMERCE COMMERCIAL REGISTERS COMPANIES REGISTRY COMPANY COMPANY LIMITED COMPANY REGISTRATION COMPANY REGISTRIES COMPANY REGISTRY COMPLIANCE OFFICER COMPLIANCE OFFICERS CONFIDENCE CONTRACTUAL RIGHTS COPYRIGHT CORPORATE AFFAIRS CORPORATE BODIES CORPORATE ENTITIES CORPORATE ENTITY CORPORATE OWNERSHIP CORPORATE STRUCTURE CORPORATE STRUCTURES CORPORATE VEIL CORPORATION LAWS CORPORATIONS CORRUPT CORRUPT OFFICIAL CORRUPT OFFICIALS CORRUPTION INVESTIGATION CORRUPTION INVESTIGATIONS COURT OF JUSTICE CREDITORS CRIME CRIME INVESTIGATIONS CRIMINAL CRIMINAL PENALTIES CROSS-BORDER TRANSACTIONS DAY-TO-DAY OPERATIONS DEBT DELAWARE DEPOSIT DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC LAWS DUE DILIGENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT EMBEZZLEMENT ENFORCEABILITY ESTATE ESTATE AGENTS EXCHANGE ACT FIDUCIARY OBLIGATIONS FINANCIAL ACCOUNTS FINANCIAL AFFAIRS FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL FLOWS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL INTELLIGENCE UNITS FINANCIAL INTERMEDIARY FINANCIAL MARKET FINANCIAL REPORTING FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSPARENCY FOREIGN CORRUPT PRACTICES FOREIGN CORRUPT PRACTICES ACT FOREIGN LAW FOREIGN LAWS FRAUD GENERAL PARTNERSHIPS GOOD FAITH GOVERNMENT CONTRACTS GOVERNMENT OFFICIALS GOVERNMENT REGULATION GOVERNMENT SERVICES GRAND CORRUPTION ID IDENTIFICATION NUMBER ILL-GOTTEN WEALTH IMAGE IMPROPER PAYMENTS INCORPORATED INDIVIDUALS INFORMATION SHARING INITIATIVE INTEGRITY INTELLECTUAL PROPERTY INTERNATIONAL BUSINESS INTERNATIONAL POLICY INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTIGATION INVESTIGATIONS INVESTIGATIVE BODIES INVESTIGATOR INVESTIGATORS INVESTMENT BANKING JUDGEMENT JURISDICTION JURISDICTIONAL AUTHORITIES JURISDICTIONS JUSTICE LAW ENFORCEMENT LAWYERS LEADERSHIP LEGAL AUTHORITY LEGAL ENTITIES LEGAL ENTITY LEGAL FRAMEWORK LEGAL MECHANISMS LEGAL OWNERSHIP LEGAL PERSON LEGAL PERSONS LEGAL PRIVILEGE LEGAL PROFESSIONAL LEGAL REQUIREMENTS LICENSES LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIMITED LIABILITY COMPANY LIMITED LIABILITY PARTNERSHIP LIMITED PARTNERSHIP LIMITED PARTNERSHIPS LTD. MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MATERIAL MINISTER MONEY LAUNDERING MULTINATIONAL MUTUAL LEGAL ASSISTANCE NATURAL PERSONS OFFENSE OWNERSHIP INFORMATION PARTNERSHIP PENALTIES PERSONAL PROPERTY PERSONAL PROPERTY SECURITY PIERCING THE CORPORATE VEIL POLICE POLITICIANS POSSESSION PRIVATE COMPANIES PRIVATE SECTOR PROSECUTION PROSECUTORS PROXY PUBLIC FUNDS QUERIES RECEIVER RECOVERY OF ASSETS REGISTRAR OF COMPANIES REGULATORY AUTHORITY REGULATORY FRAMEWORKS REGULATORY OBLIGATIONS RESULT RESULTS SANCTIONS SCANDAL SCANDALS SEARCH SEARCH FACILITIES SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIETY SOLE PROPRIETORSHIP SOLICITATION STATUTORY EXCEPTIONS STOCKHOLDERS STOCKS SUBSIDIARIES SUBSIDIARY TAX HAVEN TAX HAVENS TELECOMMUNICATIONS TELEPHONE TERRORISM TITLE TRUST LAW TRUSTEE TRUSTEES TRUSTS UNION USES VERIFICATION WEB WHISTLE-BLOWERS |
| spellingShingle |
ABUSE ACCOUNTABILITY ACCOUNTING ACQUISITION ADVERTISEMENT ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION COMMISSIONS ARTICLES OF INCORPORATION BANKS BENEFICIAL OWNER BENEFICIAL OWNERS BENEFICIARIES BENEFICIARY BIDDING BOARD MEMBERS BRIBE BRIBERY BUSINESS CORPORATION BUSINESS RELATIONSHIP BUSINESSES CASH PAYMENTS CERTIFICATE CHARTER CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER CIVIL SOCIETY CLAIM COLLECTION OF INFORMATION COLLECTIVE COMMERCE COMMERCIAL REGISTERS COMPANIES REGISTRY COMPANY COMPANY LIMITED COMPANY REGISTRATION COMPANY REGISTRIES COMPANY REGISTRY COMPLIANCE OFFICER COMPLIANCE OFFICERS CONFIDENCE CONTRACTUAL RIGHTS COPYRIGHT CORPORATE AFFAIRS CORPORATE BODIES CORPORATE ENTITIES CORPORATE ENTITY CORPORATE OWNERSHIP CORPORATE STRUCTURE CORPORATE STRUCTURES CORPORATE VEIL CORPORATION LAWS CORPORATIONS CORRUPT CORRUPT OFFICIAL CORRUPT OFFICIALS CORRUPTION INVESTIGATION CORRUPTION INVESTIGATIONS COURT OF JUSTICE CREDITORS CRIME CRIME INVESTIGATIONS CRIMINAL CRIMINAL PENALTIES CROSS-BORDER TRANSACTIONS DAY-TO-DAY OPERATIONS DEBT DELAWARE DEPOSIT DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC LAWS DUE DILIGENCE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT EMBEZZLEMENT ENFORCEABILITY ESTATE ESTATE AGENTS EXCHANGE ACT FIDUCIARY OBLIGATIONS FINANCIAL ACCOUNTS FINANCIAL AFFAIRS FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL FLOWS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL INTELLIGENCE UNITS FINANCIAL INTERMEDIARY FINANCIAL MARKET FINANCIAL REPORTING FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSPARENCY FOREIGN CORRUPT PRACTICES FOREIGN CORRUPT PRACTICES ACT FOREIGN LAW FOREIGN LAWS FRAUD GENERAL PARTNERSHIPS GOOD FAITH GOVERNMENT CONTRACTS GOVERNMENT OFFICIALS GOVERNMENT REGULATION GOVERNMENT SERVICES GRAND CORRUPTION ID IDENTIFICATION NUMBER ILL-GOTTEN WEALTH IMAGE IMPROPER PAYMENTS INCORPORATED INDIVIDUALS INFORMATION SHARING INITIATIVE INTEGRITY INTELLECTUAL PROPERTY INTERNATIONAL BUSINESS INTERNATIONAL POLICY INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTIGATION INVESTIGATIONS INVESTIGATIVE BODIES INVESTIGATOR INVESTIGATORS INVESTMENT BANKING JUDGEMENT JURISDICTION JURISDICTIONAL AUTHORITIES JURISDICTIONS JUSTICE LAW ENFORCEMENT LAWYERS LEADERSHIP LEGAL AUTHORITY LEGAL ENTITIES LEGAL ENTITY LEGAL FRAMEWORK LEGAL MECHANISMS LEGAL OWNERSHIP LEGAL PERSON LEGAL PERSONS LEGAL PRIVILEGE LEGAL PROFESSIONAL LEGAL REQUIREMENTS LICENSES LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIMITED LIABILITY COMPANY LIMITED LIABILITY PARTNERSHIP LIMITED PARTNERSHIP LIMITED PARTNERSHIPS LTD. MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MATERIAL MINISTER MONEY LAUNDERING MULTINATIONAL MUTUAL LEGAL ASSISTANCE NATURAL PERSONS OFFENSE OWNERSHIP INFORMATION PARTNERSHIP PENALTIES PERSONAL PROPERTY PERSONAL PROPERTY SECURITY PIERCING THE CORPORATE VEIL POLICE POLITICIANS POSSESSION PRIVATE COMPANIES PRIVATE SECTOR PROSECUTION PROSECUTORS PROXY PUBLIC FUNDS QUERIES RECEIVER RECOVERY OF ASSETS REGISTRAR OF COMPANIES REGULATORY AUTHORITY REGULATORY FRAMEWORKS REGULATORY OBLIGATIONS RESULT RESULTS SANCTIONS SCANDAL SCANDALS SEARCH SEARCH FACILITIES SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIETY SOLE PROPRIETORSHIP SOLICITATION STATUTORY EXCEPTIONS STOCKHOLDERS STOCKS SUBSIDIARIES SUBSIDIARY TAX HAVEN TAX HAVENS TELECOMMUNICATIONS TELEPHONE TERRORISM TITLE TRUST LAW TRUSTEE TRUSTEES TRUSTS UNION USES VERIFICATION WEB WHISTLE-BLOWERS van der Does de Willebois, Emile Halter, Emily M. Harrison, Robert A. Park, Ji Won Sharman, J. C. The Puppet Masters : How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It |
| description |
This report, the puppet masters, deals
with the corporate and financial structures that form the
building blocks of hidden money trails. In particular, it
focuses on the ease with which corrupt actors hide their
interests behind a corporate veil and the difficulties
investigators face in trying to lift that veil. It serves as
a powerful reminder that recovering the proceeds of
corruption is a collective responsibility that involves both
the public and private sector. Law enforcement and
prosecution cannot go after stolen assets, confiscate and
then return them if they are hidden behind the corporate
veil. All financial centers and developed countries have
committed, through the UN Convention against Corruption and
international anti-money laundering and countering the
financing of terrorism standards, to improving the
transparency of legal entities and other arrangements. This
report provides evidence of how far we still have to go to
make these commitments a reality. Narrowing the gap between
stated commitments and practice on the ground has a direct
impact on actual recovery of assets. |
| format |
Publications & Research :: Publication |
| author |
van der Does de Willebois, Emile Halter, Emily M. Harrison, Robert A. Park, Ji Won Sharman, J. C. |
| author_facet |
van der Does de Willebois, Emile Halter, Emily M. Harrison, Robert A. Park, Ji Won Sharman, J. C. |
| author_sort |
van der Does de Willebois, Emile |
| title |
The Puppet Masters : How the Corrupt
Use Legal Structures to Hide Stolen Assets and What to Do
About It |
| title_short |
The Puppet Masters : How the Corrupt
Use Legal Structures to Hide Stolen Assets and What to Do
About It |
| title_full |
The Puppet Masters : How the Corrupt
Use Legal Structures to Hide Stolen Assets and What to Do
About It |
| title_fullStr |
The Puppet Masters : How the Corrupt
Use Legal Structures to Hide Stolen Assets and What to Do
About It |
| title_full_unstemmed |
The Puppet Masters : How the Corrupt
Use Legal Structures to Hide Stolen Assets and What to Do
About It |
| title_sort |
puppet masters : how the corrupt
use legal structures to hide stolen assets and what to do
about it |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20111104035215 http://hdl.handle.net/10986/2363 |
| _version_ |
1764385329033248768 |
| spelling |
okr-10986-23632021-06-08T12:08:55Z The Puppet Masters : How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It van der Does de Willebois, Emile Halter, Emily M. Harrison, Robert A. Park, Ji Won Sharman, J. C. ABUSE ACCOUNTABILITY ACCOUNTING ACQUISITION ADVERTISEMENT ANTI-CORRUPTION ANTI-MONEY LAUNDERING ANTICORRUPTION ANTICORRUPTION COMMISSIONS ARTICLES OF INCORPORATION BANKS BENEFICIAL OWNER BENEFICIAL OWNERS BENEFICIARIES BENEFICIARY BIDDING BOARD MEMBERS BRIBE BRIBERY BUSINESS CORPORATION BUSINESS RELATIONSHIP BUSINESSES CASH PAYMENTS CERTIFICATE CHARTER CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER CIVIL SOCIETY CLAIM COLLECTION OF INFORMATION COLLECTIVE COMMERCE COMMERCIAL REGISTERS COMPANIES REGISTRY COMPANY COMPANY LIMITED COMPANY REGISTRATION COMPANY REGISTRIES COMPANY REGISTRY COMPLIANCE OFFICER COMPLIANCE OFFICERS CONFIDENCE CONTRACTUAL RIGHTS COPYRIGHT CORPORATE AFFAIRS CORPORATE BODIES CORPORATE ENTITIES CORPORATE ENTITY CORPORATE OWNERSHIP CORPORATE STRUCTURE CORPORATE STRUCTURES CORPORATE VEIL CORPORATION LAWS CORPORATIONS CORRUPT CORRUPT OFFICIAL CORRUPT OFFICIALS CORRUPTION INVESTIGATION CORRUPTION INVESTIGATIONS COURT OF JUSTICE CREDITORS CRIME CRIME INVESTIGATIONS CRIMINAL CRIMINAL PENALTIES CROSS-BORDER TRANSACTIONS DAY-TO-DAY OPERATIONS DEBT DELAWARE DEPOSIT DISCLOSURE REQUIREMENTS DIVIDENDS DOMESTIC LAWS DUE DILIGENCE E-MAIL ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT EMBEZZLEMENT ENFORCEABILITY ESTATE ESTATE AGENTS EXCHANGE ACT FIDUCIARY OBLIGATIONS FINANCIAL ACCOUNTS FINANCIAL AFFAIRS FINANCIAL ASSETS FINANCIAL CRIME FINANCIAL CRIMES FINANCIAL FLOWS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTELLIGENCE FINANCIAL INTELLIGENCE UNIT FINANCIAL INTELLIGENCE UNITS FINANCIAL INTERMEDIARY FINANCIAL MARKET FINANCIAL REPORTING FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL TRANSPARENCY FOREIGN CORRUPT PRACTICES FOREIGN CORRUPT PRACTICES ACT FOREIGN LAW FOREIGN LAWS FRAUD GENERAL PARTNERSHIPS GOOD FAITH GOVERNMENT CONTRACTS GOVERNMENT OFFICIALS GOVERNMENT REGULATION GOVERNMENT SERVICES GRAND CORRUPTION ID IDENTIFICATION NUMBER ILL-GOTTEN WEALTH IMAGE IMPROPER PAYMENTS INCORPORATED INDIVIDUALS INFORMATION SHARING INITIATIVE INTEGRITY INTELLECTUAL PROPERTY INTERNATIONAL BUSINESS INTERNATIONAL POLICY INTERNATIONAL STANDARD INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTIGATION INVESTIGATIONS INVESTIGATIVE BODIES INVESTIGATOR INVESTIGATORS INVESTMENT BANKING JUDGEMENT JURISDICTION JURISDICTIONAL AUTHORITIES JURISDICTIONS JUSTICE LAW ENFORCEMENT LAWYERS LEADERSHIP LEGAL AUTHORITY LEGAL ENTITIES LEGAL ENTITY LEGAL FRAMEWORK LEGAL MECHANISMS LEGAL OWNERSHIP LEGAL PERSON LEGAL PERSONS LEGAL PRIVILEGE LEGAL PROFESSIONAL LEGAL REQUIREMENTS LICENSES LIMITED LIMITED LIABILITY LIMITED LIABILITY COMPANIES LIMITED LIABILITY COMPANY LIMITED LIABILITY PARTNERSHIP LIMITED PARTNERSHIP LIMITED PARTNERSHIPS LTD. MAJOR SHAREHOLDERS MAJORITY SHAREHOLDER MATERIAL MINISTER MONEY LAUNDERING MULTINATIONAL MUTUAL LEGAL ASSISTANCE NATURAL PERSONS OFFENSE OWNERSHIP INFORMATION PARTNERSHIP PDF PENALTIES PERSONAL PROPERTY PERSONAL PROPERTY SECURITY PIERCING THE CORPORATE VEIL POLICE POLITICIANS POSSESSION PRIVATE COMPANIES PRIVATE SECTOR PROSECUTION PROSECUTORS PROXY PUBLIC FUNDS QUERIES RECEIVER RECOVERY OF ASSETS REGISTRAR OF COMPANIES REGULATORY AUTHORITY REGULATORY FRAMEWORKS REGULATORY OBLIGATIONS RESULT RESULTS SANCTIONS SCANDAL SCANDALS SEARCH SEARCH FACILITIES SECURITIES SERVICE PROVIDER SERVICE PROVIDERS SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIETY SOLE PROPRIETORSHIP SOLICITATION STATUTORY EXCEPTIONS STOCKHOLDERS STOCKS SUBSIDIARIES SUBSIDIARY TAX HAVEN TAX HAVENS TELECOMMUNICATIONS TELEPHONE TERRORISM TITLE TRUST LAW TRUSTEE TRUSTEES TRUSTS UNION USES VERIFICATION WEB WHISTLE-BLOWERS This report, the puppet masters, deals with the corporate and financial structures that form the building blocks of hidden money trails. In particular, it focuses on the ease with which corrupt actors hide their interests behind a corporate veil and the difficulties investigators face in trying to lift that veil. It serves as a powerful reminder that recovering the proceeds of corruption is a collective responsibility that involves both the public and private sector. Law enforcement and prosecution cannot go after stolen assets, confiscate and then return them if they are hidden behind the corporate veil. All financial centers and developed countries have committed, through the UN Convention against Corruption and international anti-money laundering and countering the financing of terrorism standards, to improving the transparency of legal entities and other arrangements. This report provides evidence of how far we still have to go to make these commitments a reality. Narrowing the gap between stated commitments and practice on the ground has a direct impact on actual recovery of assets. 2012-03-19T09:04:53Z 2012-03-19T09:04:53Z 2011 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20111104035215 978-0-8213-8894-5 http://hdl.handle.net/10986/2363 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication |