WHEN GOVERNMENTS GET TOUGH, CRIMINALS GET GOING OFFSHORE, STUDY SHOWS

An article from the ICIJ on 7th May reported that a study by researchers from Monash Business School and the University of Adelaide, and the University of St Gallen in Switzerland, found that offshore incorporations increased in well-governed countries immediately after media reports of asset confiscations and expropriations.  It says that apologists for tax havens have long argued that they offer necessary protection to individuals or organizations whose legitimate assets may be subject to seizure by tyrannical regimes.  Although the study found no evidence to support this assertion, it says it could not be ruled out.  However, the research did find an explicit, direct correlation between fear of expropriation and an immediate rise in offshore incorporations in wealthy countries with strong governance.

https://www.icij.org/blog/2019/05/when-governments-get-tough-criminals-get-going-offshore-study-shows/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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