GLOBALISATION
NEW TECHNOLOGIES
UNDERGROUND ECONOMIES
FINANCIAL DE-REGULATION
PROGRESS OF EUROMARKET
UNDER REGULATED FINANCE CENTRES
Jurisdictions which offer high levels of secrecy, and a variety of financial mechanisms and institutions providing anonymity for the beneficial owners, are highly attractive to criminals for a wide variety of reasons including the potential cover and protection they offer for money laundering and various exercises in financial fraud.
However, offshore financial centres and bank secrecy jurisdictions differ in many ways, for instance, what services they provide, the level of anonymity and secrecy they may offer through locally legal structures, and their willingness to cooperate with international law enforcement investigations.