The automatic association between offshore centres and money laundering demonstrates the flawed thinking that has surrounded the central issue from inception: the need for high tax jurisdictions to obtain greater and uniform transparency for all cross-border institutional and personal financial transactions, with a view to maximising tax revenues collected.
No-one supposes in the 21st century that aiding and abetting cross-border tax evasion is a sensible or sustainable pastime. But the public relations machines that have been used to shape public opinion now need to be reined in.
