The latest news coming from Russia and China spotlight the overall pervasive and often unaddressed risks posed by shell companies:

"One is the "Russian Laundromat" case, the term given by the media to a scheme that flourished from 2010 to 2014. According to the Organized Crime and Corruption Reporting Project, known as OCCRP, a consortium of international investigative journalists that specializes in reporting on organized crime and corruption and that received the transactional records, $20.8 billion in suspicious funds were transferred out of 19 Russian banks from 2010 to 2014.

More recently, in June and August of this year, the United States Attorney's Office for the District of Columbia filed three separate civil forfeiture actions in Washington to recover millions of dollars that were alleged to have been laundered through shell companies and used to finance North Korea's development of weapons of mass destruction and its ballistic missile program in violation of international and US sanctions.

The scheme, as one of the complaints alleged, included a pattern of transactions employing shell companies formed in Hong Kong, Anguilla, and the British Virgin Islands by a Chinese national that enabled North Korea to finance its sanctioned operations behind a curtain of seemingly innocuous payments for ordinary commodities."