So do these shell companies get investigated once they see an anomaly? Or is it a case of "whoops we forgot to update our current CEO. Thanks for the reminder."
this post was submitted on 28 Jan 2024
454 points (99.1% liked)
World News
39386 readers
2864 users here now
A community for discussing events around the World
Rules:
-
Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
-
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
-
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
-
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
-
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
-
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
-
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
-
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
Lemmy World Partners
News [email protected]
Politics [email protected]
World Politics [email protected]
Recommendations
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
founded 2 years ago
MODERATORS
A small fine and a finger wag will be the result of extensive investigation into these errors.
I was thinking a strongly worded e-mail. Possibly a letter, but let's not go crazy.
Nothing written, just verbal warning is "given".
Unlike the 'verbal' warnings at my company. Which are written, and submitted to HR.
Probably nothing happens at all.
Those pieces of shit dodge taxes while the rabble pays them like shit. Thiefs
what are the chances that it's the default MS Excel date of 01/01/1900 in most cases?
the 942 year old guy could be a mangled date format? maybe someone whose date was to have been recorded as October 1981 and the 10 and 81 got stored as the year?
yeah I'd rule out MS Excel date errors before really buying the conclusions in thia article.
Though that wouldn't explain the other odd things mentioned like the thousands of companies listing their address as the Egyptian pyramids, 1 guy holding thousands of roles at thousands of companies, companies listing only 1 employee that have billions in revenue, etc
it wouldnt, sure. and im not referring to those inconsistencies at all.
when it comes the dates specifically observed in the article though, as anyone who's worked with Excel will attest, date calculation errors cannot be ruled out until they are explicitly, well, ruled out.
it very much is in the realm of possibility that all other data is accurate and date errors still manifest themselves.
So this is how immortals have been getting away with things.
Moodys? You mean the pay-to-win rating company that nobody regulates?
It may be the same Moody's, I can't tell, but they have a different domain name and have a long list of departments including investments and portfolio management, compliance/KYC, supplier risk management, and many others. They are a large financial services company. https://www.moodysanalytics.com/
Regardless, this is a very interesting investigation.
Moody’s Analytics is a subsidiary of Moody’s Corporation. The Moody’s Investor Services is all part of the overall Moody’s.
This is the best summary I could come up with:
Moody’s Analytics has found 21 million “red flags” associated with shell companies that could be used to enable financial crimes, from ancient directors to dubious addresses.
Atypical directorship is just one of seven key behaviors highlighted in the research, including mass registration, dormancy and circular ownership.
While new regulations across the world are looking to improve transparency at shell companies, there is still some way to go, with $1.6 trillion laundered annually, according to data from Moody’s Analytics.
“Organizations today face mounting complexity in understanding true ownership structures and detecting risky corporate relationships,” said Ted Datta, head of the financial crime compliance practice for Europe, Africa and Americas at Moody’s Analytics.
While shell companies might have legitimate purposes, their opaqueness is often use to hide criminal financial activity, Moody’s Analytics said.
Other red governance flags included jurisdictional risk, outlier ultimate beneficial ownership and financial anomalies, it said.
The original article contains 342 words, the summary contains 147 words. Saved 57%. I'm a bot and I'm open source!
Or maybe just sloppy vampires?
Hanlon's razor tells us we should just assume stupid vampires :D