Trade barriers: Moving money offshore

Trade barriers: Moving money offshore

What role do international finance centres play in assisting and promoting international trade and investment? Geoff Cook, CEO of Jersey Finance, explains

Controversy around international finance centres (IFCs) is nothing new, and in the wake of the financial crisis in 2008, and as cash-strapped governments worldwide look to boost revenue, the subject of IFCs has been increasingly prominent in the news.  However a recently launched report, Moving Money: International Financial Flows, Taxes, and Money Laundering, shows many arguments against IFCs rest on a profound misunderstanding of how money moves around the international financial system. It is therefore unsurprising that much of the discussion around offshore finance comes in the form ...