May 13 2019
How tax-exempt warehouses contribute to some $899 billion laundered each year globally and why they are a threat to our national security.
I worked in the offshore financial business for 15 years. I traveled extensively to the Caribbean, Bermuda, Channel Islands, Hong Kong, Singapore, et cetera. Despite the tightening of financial rules around the globe and erosion of bank secrecy, with the recent money laundering scandals in the Baltics, it is very clear that nothing has fundamentally changed since I left the business 8 years ago.