Among the 472 million companies analyzed in our research, approximately 19 million entities were flagged as showing signs of being a shell company. While not all the entities flagged will pose a threat, shell companies can be used for illicit activities, like fraud, money laundering, sanctions evasion, and tax crimes.
The pervasive issue of hidden shell companies poses a significant risk to legitimate businesses and to the global economy.
In this webinar, Moody’s Industry Practice Lead, Rich Graham, will guide you through our research, which probed into the constitution of nearly 500 million organizations to identify and define suspicious corporate behaviors. He will then explain how shell company risk has been categorized and quantified – highlighting some surprising revelations.
Following this introduction, our expert panel – hosted by Choon Hong Chua - will share how these new risk insights have practical application for anti-financial crime, compliance, and third-party risk management programs:
- Understanding risks associated with hidden shell companies in your network
- Addressing shell company risks proactively in processes and investigations
- Enhancing and augmenting your programs with insights into shell company risk
- How the risk of shell companies impacts organizations in different industry sectors
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SpeakersChoon Hong Chua Senior Director, Head of Financial Crime Practice Group, APAC/ME Moody's
Sam Dorshimer Bureau of Economic and Business Affairs US State Department
Richard Graham Director, Industry Practice Lead Moody's
Anila Haleem Principal, Sanctions and Export Controls UK Finance
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Choon Hong leads the Asia Pacific and Middle East Financial Crime Practice Group in Moody’s and is responsible for driving compliance-related initiatives in the region. He is active in the compliance community across both public and private sectors, including in the banking and corporate space, and understands the emerging trends in combating financial crimes through these interactions.
Choon Hong acts as a consultant to Fortune 500 clients on risk-based approaches to anti-money laundering (AML) and supply chain, and leads datamapping workshops to help compliance departments operationalize the use of Moody’s databases. He specializes in helping clients build a holistic compliance risk framework to navigate complex regulatory environments.
Choon Hong has over 15 years of experience in the enterprise software solution space, and has spent the last few years advising major financial institutions across Asia Pacific in AML, sanctions, fraud, supplier due diligence, and trade compliance.
Choon Hong is a Certified Anti-Money Laundering Specialist and participates actively in leading financial crime conferences.
Sam Dorshimer is a Foreign Affairs Officer in the Office of Sanctions Policy and Implementation at the U.S. Department of State where he covers Russia-related sanctions. He previously worked in the Department of State's Bureau of African Affairs as the DRC desk officer and in the Treasury Department's Office of Terrorist Financing and Financial Crimes covering anti-money laundering and countering illicit finance issues in southern and central Africa. Prior to joining the State Department, he was a Research Associate with the Energy, Economics, and Security Program at the Center for a New American Security (CNAS) where his work focused on how the United States uses tools of economic statecraft, including sanctions and investment and trade controls, to achieve foreign policy and national security goals. He received his M.S. in Foreign Service from Georgetown University’s School of Foreign Service and his B.A. from the University of California, Berkeley.
Richard Graham is the director/industry practice lead focused on third-party due diligence/KYC solutions at Moody's Analytics. Before joining Moody’s Analytics, Mr. Graham held a variety of senior roles at both Featurespace and BAE Systems, focused on financial crime technology. Mr. Graham began his career working with fraud and money laundering business and technology teams at Fidelity Investments, where he was an investigator and implementation/FinCrime data expert. He has worked with many large financial institutions and FinTechs to solve the most complex financial crime technology challenges.
Anila is a qualified Barrister at Law, responsible for advancing work in respect to the breadth of sanctions regimes and implementation at UK Finance, the collective voice for the banking and finance industry. Winner of the 2023 ICA Awards, Anila is recognised and celebrated as Founder of the Women in Sanctions Forum and Co-host of the UK Finance Sanctions School podcast series, regularly bridging the gap as a generational leader promoting Diversity, Equity & Inclusion.