Offshore Banking Secrecy: Myth or Reality?

Abstract

There is no such thing as absolute bank secrecy, even in the offshore environment. Bank secrecy is a matter of degree, and ultimately is a myth rather than an absolute reality. A convenient typology is: ‘no‐tax’ havens, eg the Bahamas, Bermuda, Cayman and Turks and Caicos Islands; and Mow‐tax' havens, which include most of the other countries in the region, such as Barbados.

Citation

Maynard, P.D. (1998), "Offshore Banking Secrecy: Myth or Reality?", Journal of Money Laundering Control, Vol. 1 No. 4, pp. 316-318. https://doi.org/10.1108/eb027155