In the course of dubious investment advice, a widespread practice whereby – a domestic address is clearly stated in correspondence and in the contract, – but almost unrecognizable in the so-called “small print” (US: fine print: easily overlooked, seemingly incidental and usually intentionally printed in tiny letters as additional provisions), and – usually written on a second page of the contract at the bottom – an address in an offshore financial center is stated as the legal domicile. As has been shown several times, legal action against the wheeler-dealer (a person who makes deals in a tricky, dishonest, unfair way) is almost completely unsuccessful. – In the case of fraudulent debiting, a given address and account number. The account usually belongs to an EU citizen, usually a penniless one. The latter transfers the income collected in this way to an account abroad, almost always in an offshore financial center. He receives a small commission for this service. – So far, it has been shown that even shrewd financial detectives (wide-awake financial detectives) can hardly track down the actual domicile of the fraudsters. Legal action against those who made their accounts available for this purpose also proved futile because fraudulent intent could not be proven. – See address spoofing, disclosures, disguised, authentication requirement, bank disclosure, oversight, indirect, blue-sky laws, observation note, steam room, enabler, Financial Action Task Force on Money Laundering, Financial Intelligence Unit, financial vulture, Financial Stability Forum, money laundering, gift transfer, groupe de contact, foundation fraud, high risk countries, hawala, internet offers, account, anonymous, account disclosure, offshore financial centers, parallel banking, pump and dump, avenging angels, underground banking, tangibility, angle brokers.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/