User Rating: 4 / 5
Take a good look at the names of the offshore financial institutions licensed in the Commonwealth of Dominica, and you notice a disturbing fact: a number of the names are deceptively similar, or could be easily confused with the names of major banks in other countries, or well-established business entities. This is a tactic employed by financial criminals, who intentionally seek to mislead the targets of their fraud, or other illegal acts, by giving the victims false confidence in what is, in truth and in fact, a shell entity, with little or no assets or history. These names are not accidents, believe me.
Given that all names of applicants must be cleared by the Dominican government, prior to the granting of approval, I wonder why such deceptively similar names would ever be approved by any responsible official. Some of these banks are obviously set up for the purpose of financial crime. Were bribes paid to Dominican Financial Service Unit, to secure these names, or to other senior government officials ? Frankly, I cannot see any other means through which these irregularities were accomplished.
If you want to see the names, and judge for yourself how obvious the scheme is, you may access the Financial Services Unit list of licensed offshore banks here.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant
