FinCEN Files How banks helped Venezuela’s ‘boligarchs’ extract billions By Sasha Chavkin Sep 21, 2020 ANONYMOUS COMPANIES Inside scandal-rocked

programs, and better monitoring and more international cooperation around cross-border financial transactions. President Joe Biden made

prosecute bank executives hasn’t stopped banks from continuing to profit from moving suspect transactions. The records

can’t identify and in many cases fail to report suspect transactions until years after the

cases helping clients open overseas bank accounts in the names of anonymous companies rather than in

of discovery through this obfuscated underworld of shell companies and shady transactions. Where did all the

in secrecy jurisdictions, but it doesn’t disclose bank accounts, email exchanges and financial transactions contained in the

companies in Venezuela and other countries that allowed owners to remain anonymous through the use

house asset manager operations — called Mossfon Asset Management S.A., or MAMSA — handled more than 4,700 transactions and at

record isn’t even a flesh-and-blood person — it’s an anonymous limited liability company set