The scope for financial crime has widened with the expansion and increased integration of financial markets. Money laundering, terrorism financing and tax crime have all changed in both nature and dimension. As new technologies reduce the importance of physical proximity to major onshore financial centres so a new generation of Offshore Financial Centres (OFCs) have emerged. This accessible volume provides a deeper analysis of the economic, institutional and political features of the OFCs, in order to design the optimal international regulatory policy. Using a multidisciplinary approach with an international level of expertise, the book evaluates international policies regarding offshore countries on the basis of a systematic analysis of their characteristics.
Table of Contents
Contents: Introduction, Donato Masciandaro; Overview: markets, offshore sovereignty and onshore legitimacy, George Peter Gilligan; Law: the War on Terror and crime and the offshore centres: the 'new' perspective?, Barry A.K. Rider; Macroeconomics: the financial flows of Islamic terrorism, Friedrich Schneider; Financial policy: offshore centres and competition in regulation: the laxity problem, Donato Masciandaro and Alessandro Portolano; Public policy: offshore centres and tax competition: the harmful problem, Julian Alworth and Donato Masciandaro; Politics: offshore centres, transparency and integrity: the case of the UK territories, Chizu Nakajima; Conclusions, Donato Masciandaro; Index.
'...a welcome addition to the growing literature on the subject. I am confident that it will be much appreciated by those interested in the subject and should also contribute in some way to the fight against black money and the activities connected with it. The book brings together contributors with skills from different disciplines and the accumulated knowledge of experts who can cast new light on the topic.' Vito Tanzi, Advisor, Inter-American Development Bank and United Nations (taken from the Foreword) '...contains some interesting insights into the suggested relationship between terrorism, money laundering and offshore centres...' The Round Table 'It is not always easy for an edited book with several contributors to retain its coherence and focus...That the volume under review succeeds in doing so is largely due to the well-thought out structure of the book as well as the quality of the various contributions all of which do justice to the disciplines from which they cover the subject...a welcome addition to the existing literature on the subject.' International Studies