Offshore: Frozen Trail
Attempts to combat international fraud all too often fail because the trail is lost in jurisdictions such as Switzerland and Liechtenstein. Geoffrey Gauci examines the reasons for this lack of cooperation
In most major international fraud cases, the money trail will eventually pass through or reach Switzerland, Liechtenstein or similar jurisdictions. This tends to be where the trail goes cold. A significant feature of such jurisdictions, which makes them so attractive to fraudsters, is their stringent protection of financial confidentiality and banking secrecy.
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