Event
Incorporating the Illicit: Assessing the Market Supply of Shelf Companies
- 20 November 2024
- Expired!
- 3:00 pm - 4:00 pm
Location
- Attendance: on site
- Language: EN
Event
Incorporating the Illicit: Assessing the Market Supply of Shelf Companies
Whilst inherently lawful, shelf companies enable the generation of contrived financial structures and arrangements that can facilitate actors to organize their criminal activities and conceal, convert, or control their illicit finances or assets. A stratified market exists for the purchase and management of such legal structures. At the lower end, greater accessibility to shelf companies is enabled by websites offering shell companies, or ready-to-go corporate vehicles, at various prices to anyone interested in setting up a company quickly in a preferred jurisdiction. Although these products have been considered high-turnover and low-cost, their importance should not be underestimated. They lower barriers to entry for customers interested in concealing, controlling, and/or converting illicit finances domestically and transnationally. To gain insight into the nature and organization of this market, this article provides a first overview of the online market for shelf companies by empirically analyzing data scraped online that identified 296 suppliers. The results highlight how some shelf company suppliers are positioned in a way that is conducive to the facilitation of illicit activities; that there exists a diverse range of suppliers with varying sizes, scopes, and connections; and that the market is global, with a large variety of shelf company jurisdictions provided by suppliers.