I came across a great resource packed with information about corporate and financial structures – The Puppet Masters – a report published by the Stolen Asset Recovery Initiative (StAR), which is a partnership formed by the World Bank and the United Nations Office on Drugs and Crime (UNODC) to help end safe havens for proceeds of corruption and to facilitate more systematic and timely return of stolen assets.
How the data for the report were gathered
Using public official and secondary sources, 150 grand corruption cases involving senior public officials that span 1980 to the present were documented and analyzed. Additionally, the study features the results of questionnaires, investigative research (“mystery shopping”), survey of legislation, roundtable discussions, one-on-one interviews and other research methods that were employed to validate the findings of the study.
Summary of Contents
- Part 1. The Misuse of Corporate Vehicles
- Part 2. The Beneficial Owner
- Part 3. Where Does the Beneficial Owner Hide?
- Part 4. Finding the Beneficial Owner
- Appendix A. Compliance with Financial Action Task Force on Money Laundering (FATF) Recommendations
- Appendix B. The Five Component Projects: Methodology and Summary of Findings
- Appendix C. Short Description of Selected Corporate Vehicles
- Appendix D. Grand Corruption: 10 Case Studies
- Appendix E. An Overview of Corporate Vehicles in Selected Jurisdictions
In my opinion, it’s a fantastic resource for terminology – not only in the area of corruption but also in terms of the different types of companies, foundations and trusts, compliance, due diligence… The report can be downloaded as a PDF from here, and you can also read it online or buy a print copy.
Let me know what you think!