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2022-04-28 18:31:12

28 Apr 2022 @ 18h30 - North West University


A discussion with Dr. Duane Aslett, forensic accounting lecturer at the North West University, about money laundering with specific its emphasis on the Russian Oligox,

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past six on the item business our powered by standard bank business banking lebohang with mott this evening central media group ceo nick if stuff speaking to forensic accounting lecturer at the north west university dr doing asset and they are getting into money specific laundering with emphasis its emphasis on on the russian orthodox the run his party of their chat theme business our speaking with dr duduzane let's we has busy covering a broad topic of literally to hide money with what's happening the u in crane with russian forces pouring and now the only gogo in are being forced and being sanctioned wayne what interesting stories you heard read have seen had discussions your on with back and in forensic accounting about we're talking super yards which is quite ironic because a lot of the asset for legislation from maritime comes law on the issue maritime in the world but it's not just of course that's in the papers now the and and and super yachts how big they are the size comparing of the arts the articles if you read but it's also what what could be on those yards because it's it's any kind of it's of of of luxury luxury we we could could be be item items so so talking talking about banking's high patents value be talking about high that drastic vehicles fine wines etc so we've also seen recent a years the development of so called free ports and these are kind of museums supposed they to be a warehouse but it's you if look at them on get our online they more like a museum and is and it normally and in tax havens where they they've established established needs need and these let's call it museum where you can can where you put your your valuable assets in it does a tax and benefit because it's as always been seen in transit it's in that as long as in that warehouse kind of bonded and you only pay taken tax wants it's out of the whichever and and brought into country the the free is situated luxembourg in singapore monaco they all have free ports alec located within them and i can revive for in instance the of the for instance number of number narend of bond ratings industry thought i can sell them person who to the next simply keeps them in report and these the free tax benefits etc but it opens the way for for hiding criminal also then wealth in terms of money laundering because etc it's not always known roos rous in the free properties port what is in there what is the value etc and the d storage facilities create have the facilities for fine storing wine at the correct temperatures and that's great painting temperatures with security hazard for for fire etc so it's a it's least developed a phenomenon quite recently regions number of years and it's it it is a law enforcement is giving them a headache in whose terms of property is located industry boards is and what what is the powers in facilities in those and then that opens the way also for for possibility siding the wealth wealth are are talking talking and and again again we we about about tax free environments cross border as they could be layers of companies owning these these assets so it's difficult to determine an end who is the actual about we talk drilling january he blood so so into these days going a person of company until you find behind them seeing who who that person is very easy is it knows is not never it especially where are talking countries various etc business in business in our next our next step co ceo of the central media group holding company conclusion of a firm in dr slid i mean this is what came up when what on i did some research this topic me by some to twenty estimates close percent of russia's wealthy stashed offshore in jurisdictions like cyprus the seychelles british virgin islands even the us does that sound right again difficult to say guesstimate that would be a because when we're talking about decision well we difficulty it's difficult to determine how is being much owned by the russian instance oligopolies for and and and exactly where because of these it is anonymous entities that that hide we're all the they hide entities that that they behind anonymously but it's very difficult even in in in such an environment to accurate make it would be just guessing what the estimates of of what the amounts would be put it that way concludes between that sit down central media group ceo nick stadio dr join and us live from the north west university now f their conversation piqued you can catch your interest co it on our fm dot dot za just remember to click weed and then on on business