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How these: 1.Many jurisdiction involved in the transfer of money 2.The use of tax havens 3.Bearer bonds or cheques
Increase the risk of fraund?
1 If many countries are involved it means that the police (for example) have to understand and get the cooperation of many countries and foreign banks.
2 Tax havens tend to be secretive.
3 Bearer bonds and cheques are owned by the person who has them ie they are like cash. This means money can be transferred by simply giving people a document without any audit trail or evidence as to where the money came from/went to.
Why tax havens are secretive? My understanding is that a company will only transfer a part of itself to a tax haven to avoid tax at high rate.
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