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Hidden Ownership : = Money Laundering Enforcement and Its Impact on Tax Haven Firms' Ownership Disclosures.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Hidden Ownership :/
Reminder of title:	Money Laundering Enforcement and Its Impact on Tax Haven Firms' Ownership Disclosures.
Author:	Keloharju, Roope Patrik Benjamin.
Description:	1 online resource (90 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-12, Section: A.
Contained By:	Dissertations Abstracts International85-12A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798382782980

Hidden Ownership : = Money Laundering Enforcement and Its Impact on Tax Haven Firms' Ownership Disclosures.
Keloharju, Roope Patrik Benjamin.

Hidden Ownership :Money Laundering Enforcement and Its Impact on Tax Haven Firms' Ownership Disclosures. - 1 online resource (90 pages)

Source: Dissertations Abstracts International, Volume: 85-12, Section: A.

Thesis (Ph.D.)--The University of Chicago, 2024.

Includes bibliographical references

I examine whether tax haven firms respond to the Financial Action Task Force's (FATF) money laundering sanctions by disclosing information on their beneficial owners. I hypothesize that the sanctions are enforced through networks of intermediaries-banks and corporate law firms-that serve firms across tax havens. Exploiting the staggering of the sanction decisions, I find that tax haven firms respond to the sanctions by verifying their beneficial owners and by disclosing more specific information about their funding source. The impact on verifications is more pronounced in tax havens that have less dealings with international banks. The threat of the sanction spills over through networks of corporate law firms prompting an increase in verifications in non-sanctioned tax havens that are highly connected to the sanctioned tax haven. Taken together, the findings suggest that money laundering sanctions enhance ownership transparency among tax haven firms, but their efficacy depends on the bank and law firm networks within havens.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798382782980Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Beneficial ownershipIndex Terms--Genre/Form:

554714
Electronic books.

Hidden Ownership : = Money Laundering Enforcement and Its Impact on Tax Haven Firms' Ownership Disclosures.
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502 $a Thesis (Ph.D.)--The University of Chicago, 2024.
504 $a Includes bibliographical references
520 $a I examine whether tax haven firms respond to the Financial Action Task Force's (FATF) money laundering sanctions by disclosing information on their beneficial owners. I hypothesize that the sanctions are enforced through networks of intermediaries-banks and corporate law firms-that serve firms across tax havens. Exploiting the staggering of the sanction decisions, I find that tax haven firms respond to the sanctions by verifying their beneficial owners and by disclosing more specific information about their funding source. The impact on verifications is more pronounced in tax havens that have less dealings with international banks. The threat of the sanction spills over through networks of corporate law firms prompting an increase in verifications in non-sanctioned tax havens that are highly connected to the sanctioned tax haven. Taken together, the findings suggest that money laundering sanctions enhance ownership transparency among tax haven firms, but their efficacy depends on the bank and law firm networks within havens.
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538 $a Mode of access: World Wide Web
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653 $a Money laundering enforcement
653 $a Financial Action Task Force
653 $a Legal Entity Identifier
653 $a Money laundering regulations
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