Moody’s Analytics has found 21m “red flags” associated with shell companies that could be used to enable financial crimes, from ancient directors to dubious addresses.
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Over 2,000 shell companies have directors aged 123 years or older, Moody’s found. The oldest known human lived to 122
“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. “By detecting these discrepancies, we can equip investigators and analysts with the tools to better investigate fraud.”
