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The
move clamp down on money
laundering and track down covert
financial transactions as part of
the anti-terrorist measures
following the terrorist attacks on
the US, financial transactions in
shipping companies could under
closer scrutiny.
Corporate
structures of shipping companies,
especially the industry most
protected mechanism to operate
through one-ship companies
registered in countries like
Panama, Liberia and elsewhere are
expected to be laid bare.
With
growing concern that offshore
centers are particularly
vulnerable to exploitation by
dubious operators, governments are
expected to be urged to take
stronger measures.
According
to a London-based law firm,
Watson, Farley and Williams in
some shipping transactions, in the
way there are structured, the
focus by investigators could fall
on shipping industry.
It
has been claimed Osmana bin Laden,
accused of masterminding the
attacks on New York and
Washington, is closely involved in
the merchant shipping business.
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