A new report has revealed that cyber criminals are making use of the same types of offshore companies as those uncovered in the recent ‘ Panama Papers ’ scandal . Following the scandal , Trend Micro researchers investigated the popularity of shell companies on the darknet . The researchers discovered that several firms offer ‘ off - the - shelf ’ services to set up shell companies . Among the services associated with this are setting up a fake company with a named representative , putting in place a trust agreement , registering bank accounts in an offshore country , and making false transactions as proof that accounts are active . According to Trend Micro , other services include registering credit cards tied to bank accounts , setting up a WebMoney passport , and offering money - laundering options . (WM) passport binding these cards to WM wallets, which are handed to the customer. The most popular offshore locations are Panama , the British Virgin Islands and the Dominican Republic .
A new report has revealed that cyber criminals are making use of the same types of offshore companies as those uncovered in the recent ‘ Panama Papers ’ scandal . Following the scandal , Trend Micro researchers investigated the popularity of shell companies on the darknet . The researchers discovered that several firms offer ‘ off - the - shelf ’ services to set up shell companies . Among the services associated with this are setting up a fake company with a named representative , putting in place a trust agreement , registering bank accounts in an offshore country , and making false transactions as proof that accounts are active . According to Trend Micro , other services include registering credit cards tied to bank accounts , setting up a WebMoney passport , and offering money - laundering options . The most popular offshore locations are Panama , the British Virgin Islands and the Dominican Republic .