First of all, this is a totally illegal method.
There is no more classical money laundering formula than if somebody hides the real beneficial owner on purpose and use another one for the registers and submit this data to the bank also. Any bank noticing this fact, most probably, they will freeze the bank account and the compliance officer will report the case to the state organ responsible for the suspicious transactions’, monitoring and investigating them (Central Bank, Financial Intelligence Unit, Financial Services Authority, etc). Beyond the legal procedure after, the money will be de-frozen only in a year.
The second problem of mine is, that it can not be legally and correctly documented. The documents, regulating the affairs between the real Ultimate Beneficial Owner and the Nominee, most probably will have no legal validity. Yes, we can play, with some non-dated, pre-signed documents, but it works until somebody of the parties has not died, disappeared, or became non-cooperative. If it happens, as one of my friends – who was a policeman, dealing with murders – reminded me always: where the border of law is ended, the guns will speak.
Concretely, if something in cases connected with the asset is non-forcable legally, somebody will find a more aggressive solution for his/her favour. If somebody as a service provider would like to be involved in such cases, do it. I can not recommend it to anybody of us…
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LAVECO Ltd. was established in 1991, in Hungary, and since then has been registering and administering companies in Hungary and other countries, opening bank accounts and providing services related to the support of the companies it has registered.