Sanitised case 5 A TCB advised that through open source research they had become aware of some adverse information on the beneficial owners a company they administered. The information being that the beneficial owners had been arrested in Russia for smuggling high value yachts into the country via the UK. One of the beneficial owners […]

Sanitised case 4 Cheque kiting exploits a system in which, when a cheque is deposited to a bank account, the money is made available immediately even though it is not removed from the account on which the cheque is drawn until the cheque actually clears. An example of this is if a deposit of £1000 […]

Sanitised case 3 A Jersey company owned a private luxury yacht which had been acquired for US$20m. About 30% of the acquisition was financed from bank loans, the remaining 70% was believed to have been privately funded from the two beneficial owners of the company. A recent letter from a Middle Eastern construction company identified […]

Sanitised case 2 The disclosing institution was approached by an existing client to set up and administer a fiduciary structure for the general manager of a Russian company, their client being a major shareholder in this company.The proposed structure was to facilitate the transfer of approximately 5% of company shares as a reward for many […]

Sanitised case 1 A TCB client advised he was to sell his half of a property (which he co-owned with his brother) in Russia for US$7m. The disclosing institution was told that two payments, one of US$1m and one of US$1.8m, for this transaction would come from independent third party accounts located in Cyprus to […]