Tag Archives: CAYMAN ISLANDS

How Do They Hide in Offshore Havens?

Offshore havens provide the secrecy needed by organized crime. "Tax optimization" is not the main reason why criminals use offshores.

Most ofshore havens don't require identification of the real/beneficiary owner of a company. This allows criminals and corrupt politicians to hide behind proxies/straw parties.

The website of a major offshore formation agent lists a comparison chart between offshore havens. Important points in this chart are why to choose, for example, Panama over other offshore jurisdictions. Secrecy is the word of the day and by studying this chart you’ll be able to understand why criminals and crooked politicians choose offshore havens as their operational base.

What Offshore Companies Are All About?

The Organized Crime and Corruption Project (OCCRP) investigated the world of offshores. Offshore Crime, Inc reveals how criminals have used offshore companies as fronts for drug trafficking, money laundering, weapon smuggling, monopolizing industries, privatization fraud and corrupting politicians and government officials.  Worldwide, they are used by Mexican drug lords to launder money, terrorism groups to wage war, Iran and North Korea to evade sanctions and run guns and a host of other criminal acts yet undiscovered.

The investigative series is work in progress with new important findings to be published next week. All we can tell is that, in complete legality, OCCRP reporters managed to obtain bank records of some of the most important players in the offshore company formation turf :)