Anonymous Banking

Anonymous Banking is a thing of the past. No longer can individuals or companies have “anonymous” account in offshore jurisdiction where there is complete privacy. But all is not lost, most offshore jurisdictions have banks that offer utmost confidentiality and in combination with an offshore trust, foundation and offshore companies even more confidentiality and “anonymity of beneficial holders is achieved. This can even be more secure if nominee services are used. In such cases the actual shareholders of the company are undisclosed and only the signatories of the account are known to the bank. The beneficial individuals are protected under the umbrella of the offshore vehicle, be it the company, the trust or the foundation. Privacy is increased and enhanced.

Anonymous banks accounts of the past provided utmost privacy for an account holder, in that no name nor identification was used to open an account that was simply a numbered bank account. There are exceptional cases where a bank would be willing to provide a numbered account to a client where the client information is known by only the most senior banks representatives. That holds little or no security for some, as compared to the “anonymous banks account of old. The best way to achieve anonymity in offshore environment is to use one of the offshore products like an IBC, or an offshore trust to operate the offshore bank account.

Any banking establishment advertising “anonymous” offshore bank accounts as a complete package is guaranteed to be a scam, since international and local regulators of all jurisdictions, stipulate that the identification of account holders must be disclosed, prior to approving an application. This identification confirmation is a standard industry requirement is forms part of the KnowYourCustomer rules and regulations.

Any bank operating anonymous account will find itself in non-compliance and as a result will not be able to conduct banking activity with other banks, and it will be black listed… Not good for any business or individual.

The next best thing to anonymous banking, is the bank account in a jurisdiction where banking secrecy is held sacred, and to compliment the confidentiality of the account use an offshore product such as an IBC with nominee directors, that way actual beneficiary names are not used, just an the company name, and if checked up, just the nominee directors names will be appearing.

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