Anjouan Corporate Services

I suspect they are like the old Somalia International Financial Centre which the FSA studiously ignored for years even though it was based in Chelsea. Likewise neither the FSA nor the Dubai FSA was interested in Banco Re Mida (King Midas), the SIFC licensee with a drop box at the Dubai Free Zone. The authorities can't even seem to deal a final death blow to the infamous Melchizedik scam:

www.melchizedek.com/dom/index.html

Some might claim these are convenient sources for intelligence hence they are allowed to operate, I disagree. The failure to regulate is due to the failure of international law to understand the proliferation of "virtual states" that also have real assets and substance.

And that is the problem. Some agencies should stop running things like corporative big boys and instead start doing some "good" thinking.

Old but interesting... WHO would want to deal with financial services in a place where even banks are suspect? SOMEONE looking for questionable alternative venues....

The FIB provides financial investigation services to members. Non-members can find out more by contacting by email at fib@icc-ccs.org.

Anjouan banks suspect

Sunday, 18 September 2005 00:00

FIB identifies vulnerabilities in Anjouan banks

The ICC's Financial Investigation Bureau (FIB), has received numerous reports of irregularities stemming from banks registered in Anjouan, Comoros Islands, off the east coast of Africa. Specifically, the FIB has learned of several incidents where offers of trade financing, commercial lending or asset-backed lending were made against false financial instruments such as Letters of Credit, Standby Letters of Credit, and Bank Guarantees.

Banking regulations in Anjouan have become complicated and unpredictable following a series of conflicts internal to Anjouan financial authorities. Officals at these agencies have been accused of issuing inappropriate licences to offshore banks. It is highly probable that these offshore banks do not have sufficient assets to support the issue of certain financial instruments.

Attempts by the FIB to clarify who has the authority to issue bank licences in the area have failed. Jon Merrett, the FIB’s Assistant Director stated: “A number of people on Anjouan claim to have the authority to issue bank licences, but their credibility remains heavily suspect."

The credibility of the Anjouan banking industry has been further undermined by one discredited bank that succeeded in having its details registered in a leading business directory. The bank, which is well known to the FIB, was able to get the listing after producing financial statements and testaments of good practice.

A number of the transactions resulting from the directory listing have since been called into question. The business directory owners responded quickly to remove the listing, but it is feared that there may be many other victims who have yet to realise that their trades or loans may have no substance.

According to FIB research, the bank that managed to get itself registered in the business directory is said to have been granted a licence in 2000 and have 38 employees. Since 2003, the FIB has received numerous reports that this institution issued fraudulent, worthless Letters of Credit and Bank Guarantees, often for several millions of dollars. A number of new complaints were reported to the FIB this summer. Based on these reports, the FIB is currently investigating this bank on behalf of several companies.

Mr Merrett noted, “The bank in question does not appear to have a physical location. The address stated to be in Ireland is not registered. A second Anjouan bank that had its licence revoked in 2003 is still issuing illegal documents and has recently negotiated a deal with two North Korean banks to set up another offshore institution."

Mr Merrett added, “Given the current uncertainty in this region, it is advisable that anyone having dealings with an Anjouan registered banking entity or any financial transaction connected with the island take immediate steps to verify the worth of the financial instruments involved and the credibility of the institutions or individuals they are transacting with."

ALso, see the following for a deepening:
comoros-islands.com/TheJournal.pdf
London Trial of an Anjouan Offshore Bankding Dispute
Date:07/02/2007
London trial of an Anjouan offshore banking dispute:
Last week the Royal Court of Justice in London gave its verdict on the dispute between the French
businessman Fabien Lecler (who had lived for a while on Reunion Island) and the British magnate Johnny
Sei-Hoe Hon concerning the Anjouan financial offshore sector. Hon, represented by the firm Russel Jones
& Walker, had taken Lecler to court over a libel in a conflict dating back to 2003. This was when a change
in the island's government resulted in Lecler losing the right to issue international licences for banking,
insurance and Internet gambling activities by basing them in the Anjouan offshore financial area. The new
island's government instead gave this right to Hon. The two men then waged verbal warfare via their
respective web sites.
At the outcome of the trial in London, Lecler accepted to apologize to Hon in order to avoid being
condemned for libel. He also admitted that the latter had obtained the authorisation to issue these
licences entirely legally in 2003. Finally, he also accepted to remove his Internet web sites criticising Hon
or continuing to sell offshore licences in the name of the Anjouan authorities.
However, last year Hon and his company Global Financial Marketing Plc sold its right to issue the said
licences to the firm Anjouan Corporate Services Ltd (ION 1171). Therefore, it is this latter firm, set up by
Ronnie Dvorkin with the approval of the President of Anjouan, Mohamed Bacar (see
, which has now had its legitimacy reinforced by this verdict from the London high
court. Last year, President Bacar had failed in his attempt to have the World Intellectual Property
Organisation (WIPO) prevent Lecler’s web sites from referring to Anjouan (ION 1172).
Date:30/

Money Laundering and Financial Crimes
www.scribd.com/doc/19314171/2008-International-Narcotics-Control-Strategy-Report-Volume-II

Union Vice President Idi Nadhoim hosted a seminar in early 2007 on policies to combat moneylaundering and terrorist finance. The event was sponsored by the World Bank and the Bank of France.Union Central Bank officials, commercial banks, and operators participated, with a focus on Union policies with regard to Anjouan’s illicit banking license activities. Marc Lantieri, Head of the FrancZone at the Bank of France, made a keynote presentation on financial risk management and moneylaundering.At the same seminar, Vice President Nadhoim emphasized that a stable and healthy financial systemwas a prerequisite for economic development. Jean Pierre Michau, an advisor to the Governor of theBank of France, stated firmly that the Anjouan government’s Internet-based banking license sales were against Comoran law and facilitated fraudulent banking activity. Vice President Nadhoim publicly accused Mr. F. LeCler of La Réunion as an accomplice of Anjouan in setting up moneylaundering operations.

The Vice President also said Mr. Ronnie Dvorkin of “Anjouan CorporateServices” based in London was accused of violating Union Laws in his dealings with Anjouan. Soon thereafter, Central Bank Governor Abdoulbastoi sent the United States Embassy a comprehensive report on Union Government policies and actions with regard to illicit Anjouan banking activities. Citing the 2003 law that conferred sole authority for granting banking licenses on the Union Central Bank, the Governor reported he had informed financial authorities in France, Brussels, and the United States to prohibit all activities by Anjouan-registered entities. The Governor repeated an earlier request that U.S. or European authorities help the Comoros by closing down all websites associated with Anjouan, including National Bank of Anjouan, International CompanyOffice, Wall Street Bank, anjouan.net, anjouan.com, anjouan.org and numerous others.

The Union Central Bank has for years corresponded with French commercial banking authorities to request action against Anjouan entities. The Union Government has also issued numerous public announcements warning the public against all Anjouan financial entities. A regularly-updated circular lists the six banks properly accredited by the Union Central Bank in the Comoros: Central Bank of Comoros, Commerce and Industry Bank, Comoros Development Bank, National Post Office and Financial Services Company, Meck Union, and Sanduk Union.

The 2004 federal-level AML law is based on the French model. The main features of the law are thatit: requires financial and related records to be maintained for five years; permits assets generated or related to money laundering activities to be frozen, seized and forfeited; requires residents to declare all currency or financial instruments upon arrival and departure, and nonresidents to declare all financial instruments upon arrival and all financial instruments above Comoran francs 500,000(approximately U.S. $1,250) on departure; permits provision and receipt of mutual legal assistance with another jurisdiction where a reciprocity agreement is in existence and confidentiality of financial records is respected; requires nonbank financial institutions to meet the same customer identification standards and reporting requirements as banks; requires banks, casinos and money exchangers to report unusual and suspicious transactions (by amount or origin) to the Central Bank and prohibits cash transactions over Comorian francs 5 million (approximately U.S. $12,500); and criminalizes the provision of material support to terrorists and terrorist organizations.

Although there is a suspicious activity filing requirement in the Union’s AML law, there does not appear to be an independent financial intelligence unit in either Anjouan or the Union. As of February 2006, no suspicious transaction reports had been filed with the Comorian Central Bank in Grand Comore as required under the existing Union law, and the branch of the Central Bank located in Anjouan had no knowledge of the shell bank entities that have been licensed by Anjouan’s Offshore Finance Authority, which apparently operates independently from the Union’s Central Bank and has licensed some 300 offshore banks, many of which appear to be shell banks.Foreign remittances from Comorans abroad in France, Mayotte (claimed by France) and elsewhereremain the most important influx of funds for most Comorons. Until recently most remittances came

INCSR 2008 Volume II
via informal channels, but in 2006 Western Union established a presence to capture part of this market.Union authorities have limited ability to implement AML laws in Anjouan and Moheli. Similarly, the island governments of Anjouan and Moheli may have limited control over AML matters. Although Moheli has its own AML law in effect (the Anti-Money Laundering Act of 2002), the law itself has some serious shortcomings and authorities lack the resources and expertise to enforce its provisions.Comprehensive information on Anjouan’s laws and regulations is difficult to obtain, but it appears Anjouan does have an AML law (the Money Laundering Prevention Act, Government Notice 008 of 2005) but reportedly the law applies to Anjouan and not to the offshore entities it licenses. Little is known about: (i) the procedures that have been established to review and approve offshore licenses issued before the enactment of the AML law; (ii) the procedures that have been established to reviewand approve ongoing bank license applications and to supervise and monitor institutions for compliance with Anjouan laws; and (iii) the efforts and resources available to implement these procedures and enforce compliance.

President Sambi has reiterated Union Government support for efforts made under former President Azali to bring AML enforcement under Union government jurisdiction. All banking and financialinstitutions operating within the jurisdiction of the Union of the Comoros, whether offshore or onshore, must abide by the provisions of legislation No. 80-7 of May 3, 1980. According to article 7 of this legislation, a bank or any other financial institution cannot operate in the Union of the Comoros without prior authorization from the Union Finance Minister upon recommendation from the Comoros Central Bank. Thus, offshore banks operating in the autonomous islands of the Union of the Comoros without prior authorization from the Union Finance Minister contravene the May 3, 1980 legislation.

Since taking office, President Sambi has sought to have corrupt former officials prosecuted. A grossly inadequate budget, dysfunctional ministries, and a non functioning judiciary limit Sambi. Throughout 2006 there were reports that Sambi’s authority in Anjouan is limited. There are reports that high-ranking Comoran officials tolerate and possibly benefit from money laundering. The lack of politica will is exacerbated by the lack of capacity. Under the Constitution, the Union AML applies to all three islands, but is not enforced in Anjouan.While the Comoros is not a principal financial center for the region, Moheli and Anjouan may have attempted or may be attempting to develop an offshore financial services sector as a means to finance government expenditures. The Anjouan island government’s claim that unrelated companies are presenting themselves as licensed by the government of Anjouan makes authoritative information on Anjouan’s offshore sector difficult to establish. Both Moheli, pursuant to the International Bank Act of 2001, and Anjouan, pursuant to the Regulation of Banks and Comparable Establishments of 1999, license off-shore banks. Together, the islands have licensed more than 300 banks. Applicants for banking licenses in either jurisdiction are not required to appear in person to obtain their licenses.

In Anjouan, only two documents (a copy of the applicant’s passport and a certificate from a local police department certifying the lack of a criminal record) are required to obtain an offshore license and fax copies of these documents are acceptable. Even if additional information was to be required, it is doubtful that either jurisdiction has the ability or resources to authenticate and verify the information. Neither jurisdiction is capable, in terms of expertise or resources, of effectively regulating an offshore banking center. Anjouan, and probably Moheli as well, has delegated much of its authority to operate and regulate the offshore business to private, non Comoran domiciled parties. In November 2004 and again in December 2005, Anjouan island government officials denied island government involvement in the offshore sector. They said the Union of the Comoros Central Bank was the only authority for the offshore banking sector in the country and insisted the Anjouan island government had not established its own central bank. They admitted that several years earlier the government of Anjouan considered starting an offshore banking sector, but they had not pursued it. Substantial concern remains that Anjouan, and possibly Moheli, allows shell banking activity. Union President Sambi has repeatedly

Money Laundering and Financial Crimes
requested international assistance in closing any shell banks or illicit financial entities that operate within the Comoros without legitimate approval. France, the former colonial power, maintains substantial influence and activity in Comoros, and has bypassed the Union and island governments to, where possible, prosecute suspects in money laundering or shell banks under French law. Although Comoros lacks homegrown narcotics, the islands are used as a transit site for drugs coming mainly from Madagascar. In view of international concern about drug trafficking, in 1993 France began providing technical expertise in this field to Comoros.In addition to offshore banks, both Moheli, pursuant to the International Companies Act of 2001, and Anjouan, pursuant to Ordinance Number 1 of 1 March 1999, license insurance companies, Internet casinos, and international business companies (IBC’s). Moheli claims to have licensed over 1200IBC’s. Bearer shares of IBC’s are permitted under Moheli law. Anjouan also forms trusts, and registers aircraft and ships (without requiring an inspection of the aircraft or ship in Anjouan). Comoros is a party to the 1988 UN Drug Convention, the UN Convention against Transnational Organized Crime, and the UN International Convention for the Suppression of the Financing of Terrorism.

Comoros has become the 12th member of the free-trade area of the Common Market for Eastern andSouthern Africa (Comesa). The U.S. Export-Import Bank (ExIm Bank) has added Comoros to its Short-Term Insurance Pilot Program for Africa (STIPP), while renewing the program for three years, beginning March 31, 2006.The Government of the Union of the Comoros (GOC) should harmonize anti-money legislation for the three islands that comprise the federal entity. The legislation should adhere to world standards. Aunified financial intelligence unit should be established and the unregulated offshore financial sectors in Moheli and Anjouan should either be regulated by federal authorities or be shut down. In either case, bearer shares should be prohibited. The list of individuals and entities that are included on the United Nations 1267 Sanctions Committee’s consolidated list should be circulated to banks in the Comoros.

The deficiencies in the anti-money laundering/terrorist financing regimes in the Comoros and the inability to implement existing legislation make it vulnerable to traditional money laundering and to the financing of terrorism. Comoros should make every effort to comport to international standards. The total annual operating budget of the Union Finance Ministry is less than U.S. $100,000.Combined with the lack of political strength, it is highly unlikely that the needed reforms in Moheliand Anjouan will be successfully implemented without significant outside assistance.

"Anjouan Corporate Services" based in London," for years apparently but FSA has no knowledge of it?

Two interesting reports:

Financial Services Authority warned of further mis-selling scandals
www.unitetheunion.org/news__events/latest_news/financial_services_authority_w.aspx
([u]Note[/u]: must use cached version to read it)[/i]
31 October 2012

A culture of target driven sales in high street banks is failing customers and could lead to another mis-selling scandal warns Britain’s largest union, Unite, in a submission today (Wednesday 31 October), to the Financial Services Authority (FSA) .

The warning, in a response to the FSA’s consultation on risk and incentive schemes, comes on the same day, as Barclay’s reported a quarterly loss of £47 million which was partly driven by a £700 million ‘hit’ to cover mis-sold PPI claims.

Responding to the consultation which ends today, Unite calls on high street banks to follow the lead of the Co-operative Bank and Barclays by scrapping sales bonuses for customer facing staff and replacing them with rewards for good customer service.

In its submission the union, which represents 130,000 workers in the UK finance sector, highlights instances of pressurised sales environments and how in one bank, eight in ten workers suffer from stress due to unrealistic targets, the unremitting pressure to perform and insufficient time to do their job.

With a significant proportion of workers in the banking sector relying on bonuses to top up their low wages, the submission goes on to show how:

Banking staff are faced with performance improvement plans, the threat of a disciplinary, or in extreme cases, dismissal for failing to achieve sales targets.
In one large retail bank products being sold on a points basis with points leading to ‘mystery prizes’ for staff.
In one high street bank if there aren’t enough customer financial planning meetings scheduled by the end of every Wednesday, then staff had to stay behind to ‘fix’ the diary.
Bank workers being asked to make ‘service’ calls to people registered under the Telephone Preference Service (TPS), despite raising concerns that it they could be in breach of TPS guidelines and seen as prospecting for business.


The submission concludes by calling for worker representation on remuneration committees of the banks to bring an end to the target driven sales culture and a more customer focused approach.

Gail Cartmail, Unite assistant general secretary, said: “The short term, ‘quick buck’ culture, which fuelled the financial crisis, is alive and well in some of the boardrooms of our high street banks.

“The target driven sales culture, where the performance of ordinary bank workers is judged on achieving sales targets, rather than meeting the needs of customers is unsustainable and could lead to another mis-selling scandal.

“Today’s figures from Barclays show the cost of putting sales before customers. Barclays has recognised this and along with the Co-operative Bank has started rewarding staff for customer service rather than sales.

“The FSA needs to press the other high street banks to follow suit to ensure we have a retail banking sector that is driven by what is best for the customer and not arbitrary sales targets.”

ENDS

For more information please contact the Unite press office on 020 3371 2065 or Alex Flynn, Unite head of media and campaigns, on 020 3371 2066 or 07967 665 869.

Notes to editors:

Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The union’s general secretary is Len McCluskey.

This also makes some food for thought...
www.wdm.org.uk/sites/default/files/FSA-watchdogorlapdog.pdf

the discussion goes off topic, this thread is for discussing Anjouan Services.

For additional info, please visit the following links:

www.talkgold.com/forum/archive/index.php/t-52749.html

forum.aa419.org/viewtopic.php?p=5701

fabien-lecler.blogspot.de/2006/09/fraud-in-anjouan-by-bci-fabien-lecler.html

wwsnforums.com/phpBB2/viewtopic.php?start=0&t=116

The license of the old Anjouan Banks is useful only in Africa, you can not even get directly into SWIFT but still somethings can be done, big banks will not deal with them directly. And Jon is right offshore islands are only working when you have the political connection to get things done, they are not for your normal bank customer.

there are some, like slogold, who still offer them: www.slogold.net/order_comoros_bank_license.html, it is possible to use them and yes there is a Hawala System working with a clearing center in Paris and London through indian or lebanese traders.
What not to do shows Soleil Bank (http://sapphirecapital.proboards.com/index.cgi?board=banks&action=display&thread=8)

Anjouan offshore banks

What is a general banking license class A
It is understood in a majority of jurisdictions as a license for the providing of banking services at the place of registration or international bank services for the public. The bank acts as any other banking entity; it can accept deposits from the public and performs common bank services with residents or non-residents. In an overwhelming majority of countries, however, the activity is limited to providing services to non-residents, i.e. offshore banking services only. This type of offshore banking is established in view of providing commercial bank services in an offshore regime.

What is a restrictive banking license class B
Is a license, which limits territorial activities of the bank, possibility of providing services in foreign currencies or to certain persons. In a majority of cases, the bank cannot accept deposits from the public and it can provide its services only to those entities, which are provided for in the bank license. This bank is used as the so-called corporate bank for active Cash Flow management.

Banking
Class B banking licenses are the only type of offshore banking license granted on the island of Anjouan . This is a full-unrestricted banking license. Class A banking Licenses being reserved for Anjouan onshore banks. The National Bank of Anjouan has certain requirements to be satisfied by all offshore banks, namely;

A reserve of USD 100,000 is required, which may either be in the form of an irrevocable guarantee from a foreign bank that is approved by the National Bank of Anjouan or in the form of a deposit at the National Bank of Anjouan both types of banking license may be granted to international companies

Obtaining a banking license is a relatively quick process due to the lack of bureaucracy. Approval can be granted swiftly providing the necessary due diligence requirements are met.

There are no requirements for local offices or employees, however local companies in Anjouan can provide representative offices. Correspondent accounts can sometimes be arranged depending on the strict due diligence and subject to negotiable fees and due diligence. Offshore offices are now also available in Anjouan with French, English and Arabic speaking secretaries.

Banking Law
The key features of the Law are as follows:

The Law establishes a licensing regime for banks and savings institutions; the National Bank of Anjouan or the Offshore Finance Authority can issue banking licenses. ‘A' Licenses are for banks with physical branches in Anjouan and offering services both internationally and domestically; ‘B' licenses are for offshore banking only.

The Anjouan Offshore Finance Authority can specify the minimum capital required for a bank.

A Bank must inform the Anjouan Offshore Finance Authority about any change in its share ownership.

A number of rules govern prudential and fiduciary aspects of bank operations, although they are mostly subject to variation at the behest of the Anjouan Offshore Finance Authority.

There are reporting requirements, but they apply mostly to ‘A' license banks.

There are rules dealing with the supervisory regime of the National Bank of Anjouan; again, these mostly apply to ‘A' license banks.

Banks with existing licenses need to re-apply annually.

The Law does not contain any Islamic (shari'a) banking rules.

Legal Structure
The Anjouan offshore banking laws, which were passed in February 2005, have been structured to be modern and flexible and are based on years of close study of the experiences of other offshore centres around the world.
With extremely high due diligence standards, the right conditions for a friendly and hassle free business environment exist. It is necessary to obtain positive identification of company owners for central registry records, a task that is not implemented in major jurisdictions. This will eradicate many of the problems that similar haven nations have experienced over the years.

Our Staff will be quite happy to discuss your specific needs and requirements. We can provide you with the insight that you will require to make an informed decision. How to order?
Click here for details how to order bank license If you have more questions about offshore bank license on Anjouan please contact us.