Money Laundering in Shipbuilding Industry

Shipbuilding projects do not require significant financial investments.

The shipbuilding industry is simple and involves only a few parties.

International involvement in the shipbuilding industry makes it easier to track financial flows and transactions.

There is no increased risk of corruption and bribery in the shipbuilding industry due to its financial interests.

Corruption in the shipbuilding industry does not facilitate money laundering transactions.

Payments in the shipbuilding industry are never made partly in cash.

The construction industry is often not capital intensive, with small sums of money involved in projects.

Cash payments are rare in the construction industry, especially for larger projects.

Infrastructure projects typically do not involve significant investments and various parties.

Infrastructure projects funded by the government do not carry an increased risk of corruption and bribery.

Trust service providers do not help their clients do business anywhere in the world.

Trusts always have a simple legal structure with clear beneficiaries and sources of funds.

Trusts are never used for ensuring privacy and anonymity of assets and wealth.

Law enforcement agencies find it easy to monitor and exchange information about cross-border trust structures.

In all jurisdictions, trusts are subject to the same strict regulations and reporting requirements as financial institutions.

The Panama Papers were a major data breach that revealed information about tax evasion and corruption.