Shell Companies and Mule Accounts – What’s under the hood?

November 9, 2021
12:00PM - 1:00PM HKT/GMT +8
Online
1 ACAMS Credit

Overview

With the pandemic, there has been a sharp increase of frauds reported to banks. When banks try to trace these funds, they often find the funds have gone through a series of accounts that turn out to be “mule accounts”, and when trying to identify the beneficial owners of these, often find “shell companies” within the ownership chain.

  • What are shell companies and mule accounts?
  • How are they used for illicit purposes?
  • What risks do they bring to banks and most importantly, what red flags should we look for to help identify these?

In this session, we will host a panel discuss with experts in the field to discuss these questions, as well as some of the technology solutions that can be used.

Credits

1 ACAMS Credit **Please note that ACAMS credit for this virtual event is available to members of the Chapter only.