Why not use fake (or someone elses) info when creating an offshore company?

[electric]

Hello,


When I view the requirements to create a new IBC in any offshore location, I see the required documentation is something like this:

• Passport
  
• Utliity bill less then 3 months old
  
• Other personal information that shows your real name and identity
  

Then you can purchase a nominee shareholder and director option, so that your real name and info are not published in the public records of the IBC. However, your real name/info are still put into the IBC's official documents and kept on file by the company doing the IBC registration for you. They're just not made public.


The offshore countries, and the registration service company's, say they won't ever reveal this private information about your real identity... but really, let's look at what recently occured in Switzerland and will likely eventually happen in Panama and other former offshore locations. How long will it be before your real name/info is "accidently" provided to authorities. For example, there is discussion that the US and EU are going to start offering multi-million dollar rewards and "witness protection" to anyone who can provide the real owner info for IBCs. (In other words, there would be nothing stopping some government official or even a nominee sharehold/director person from walking out of their country with a list of *real* information about the people who actually own the IBCs, and then starting a very nice new life in the US or EU as millionaires.)


It is a huge risk to provide your real information to anyone, regardless of what "assurance" the country or registration service provider makes. The fact is that once you have provided your real name and information to someone else.... it is forever "out there" and could potentially be revealed. It takes only one person to reveal your information, for whatever reason, and then you're screwed. Your IBC country could change their rules at any time without your permission. People (nominees) can tempted by money/reward...


Wouldn't it be much safer to use fake information when creating the IBC? ie: It is very easy to use photoshop to create a very authentic-looking passport and utility bill that has a fake name and picture. Or why not use the real information from a recently deceased person? Or perhaps use the real information of an old person who is never in a million years going to know?


This way, if (or when!) the real information behind your IBC becomes revealed... it really won't matter because your real information is not really "real". I think in order to truly remain 100% anonymous, no matter what happens, it is necessary to use fake info.


I hope that all makes sense? So I am wondering... what "checks" are done on the documentation provided to open a new company? (passport/utility bill) Does the registration service company actually call the government of the passport country and verify if it's a legitimate passport? Do they call the utility company and ask if there's a real person who matches the name/address info that was provided?


Now my first question/concern would be about what happens to the banking stuff if you have used fake (or someone elses) information.. but in reality, the banking and management done by the real "owner" of the company is handled over the internet or phone... so who is going to know if the picture doesn't match the actual owner? If the bank asks for verification of the owner, you simply send them your photoshop passport, etc... Worst case scenario, you could use a picture in the passport that looks similar to you (add a beard, etc..) and then if you really did need to show up one day at the bank personally.. you could easily get a fake passport to match whatever they have on file. (It's easy to get a good fake passport that doesn't actually work at the border with a government, but would fool any bank manager.) I mean.. is the bank going to call your embassy and ask if this passport is real?


I hope this all makes sense. This is a legitimate question, and the concern of your *real* information floating around (even if it's supposedly locked away in a safe somewhere), is very real.


So what do you think?

 

[Zqq]

Wouldn't it be much safer to use fake information when creating the IBC? ie: It is very easy to use photoshop to create a very authentic-looking passport and utility bill that has a fake name and picture. Or why not use the real information from a recently deceased person? Or perhaps use the real information of an old person who is never in a million years going to know?

It is safer in the sense that it is more difficult for authorities to track you down and it is a fairly common practice among organized criminals to use other people's identities. Using fake identities is fairly difficult, since you are are increasingly asked to provide notarized (or even apostilled) passport copy. You would need a corrupt notary to be safe, in case the bank calls the notary and asks for confirmation.


Furthermore, fake passports are easy to spot if you have experience with document verification. I have seen hundreds (if not thousands) of passport in my experience within compliance and anti-fraud, many of them fake. I think you overestimate how easy it is to create a fake passport. It's not just a matter of "photoshopping a passport." It's people like you who are the ones we spot the most easily when checking documents.

So what do you think?

Aside from being illegal, it also means your company doesn't belong to you. What do you do if you need to sue or litigate?


Some banks ask for renewed due diligence, meaning you may have to send a new passport after a few years. Since you can't send them an expired passport, you would have to acquire or falsify a new passport. What's your long-term solution here?


It's also a substantial added risk. If you get caught and it all traces back to you, not only do you risk prosecution for tax evasion, which in many jurisdictions is just a fine; you also risk being charged with fraud and whatever else a creative prosecutor can come up with, which generally comes with a prison sentence.