IWS Documented News INTERNATIONAL

IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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World Bank

Stolen Asset Recovery (StAR)

The Puppet Masters: How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do About It [24 October 2011]

http://www1.worldbank.org/finance/star_site/documents/Puppet%20Masters%20Report.pdf

[full-text, 284 pages]

Fact Sheet
http://www1.worldbank.org/finance/star_site/documents/English%20FactSheet_PuppetMasters.pdf

This new StAR report examines how bribes, embezzled state assets and other criminal proceeds are being hidden via legal structures – shell companies, foundations, trusts and others. The study also provides policy makers with practical recommendations on how to step up ongoing international efforts to uncover flows of criminal funds and prevent criminals from misusing shell companies and other legal entities.

Press Release 24 October 2011

Corrupt Money Concealed in Shell Companies and Other Opaque Legal Entities, Finds New StAR Study

Greater transparency needed to uncover flows of criminal funds

http://www1.worldbank.org/finance/star_site/documents/EnglishPuppetMasters_PressRelease.pdf

Washington, October 24, 2011 – Most large-scale corruption cases involve using legal entities

to conceal ownership and control of corrupt proceeds,  and policymakers should take steps to

improve transparency to reduce opportunities for wrongdoing,  according to a study  released

today by the Stolen Asset Recovery (StAR) Initiative of the World Bank and the United Nations

Office on Drugs and Crime.

AND MORE.....

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 262-6041               
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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