|
|
Rules of Anonymus Banking
straightforward agreeable facts |
 |
|
|
Anonymous Banking Rules
Anonymous banking comes with different tools for usage and
for your information we have listed two examples below:
- Internet banking
- Bank accounts
Anonymous Banking is processed using strong financial cryptography.
The bank issues currency in the form of electronic tokens that
can be converted on presentation to the bank to money.
Internet Banking
Algorithms like RSA with a 1.024 bit-key or IDEA with a 128
bit-key are used to encode data. Higher level of security by
using a so-called electronic fingerprint can be achieved by
taking this fingerprint before and after the transmission.
Comparing them and verifying identity results in acceptance.
Any differences however trigger the transaction being aborted.
The use of the above mentionend methods makes anonymous banking
(or rather pseudonymous banking) possible.
Anonymous Bank accounts
Opening an anonymous bank account, offshore or onshore, requires
legal procedures and banks are compelled to identify the account
holder. The FATF "Financial Action Task Force" an
organization that declared war on anonymous banking, wherever
in the world, because in their opinion anonymous bank accounts
are a useful opportunity for the laundering of illicit funds
and used for terrorist and criminal activities. Even if only
a handful of accounts, when looked at all bank accounts globally,
fit this profile, the blacklisting had a heavy impact on banks
being on the blacklist. Blacklisting banks by FATF had the
consequence that these banks came under financial pressure
and therefore most of the banks complied with the rules of
the FATF. Interestingly,
none of the blacklisted
banks today, are offshore jurisdictions. The
FATF report of June 2006 (in .PDF format) is downloadable
here.
We realize that the days of the anonymous bank accounts have
past but the practice of anonymous banking itself not. However,
anonymous banking requires careful legal planning on a global
scale.
Offshore registered companies always play a central part in
constructing any anonymous banking facility. Imperative is
knowing the rules of legislation regarding beneficial owner
disclosure. Requirements of offshore havens are
that the actual owner
of any account has to prove his/her identity. This can be achieved
by sending a copy of the passport by fax. Personal meetings
or travelling to the offshore banking location is not rquired.
Nominees in charge of any account holding an offshore company
is not always sufficient.
|
|
|
|
|
