OFFSHORE BANK ACCOUNTS are often associated with the darker side of major finance. Their high degree of confidentiality offers an ideal opportunity for tax evaders, arms and drug traffickers, terrorists, and corrupt politicians. Although most offshore banks offer a variety of legal services, many of these institutions have been tarnished as corrupt. These institutions are magnets for people wishing to profit from money laundering, fraud, corruption and tax evasion. The appeal is bank secrecy, which offers animosity to its clients. Offshore banking is a blue chip multi-billion dollar industry and involves international banks, major investment firms, and accounting firms. The special private banking services they provide allow big savings for big-money clients, who take advantage of the bank's discretion. Many of these clients fall in ...

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