Elites' Secrecy Tactics in the Offshore World
A recent study based on data from the International Consortium of Investigative Journalists’ Offshore Leaks Database found that elites around the world rely on specific secrecy tactics to obscure and shield their wealth.
Researchers from Dartmouth College found that ultrawealthy people in countries with high rates of financial transparency and oversight are just as likely to turn to the offshore world as their counterparts living under corrupt regimes.
- Elites in democratic and authoritarian countries use financial secrecy tactics.
- Those from countries with high institutional corruption diversify assets across multiple offshore financial centers.
Secrecy strategies: Global patterns in elites’ quest for confidentiality in offshore finance
Author Herbert Chang discusses the study with ICIJ, highlighting the similarities and differences in secrecy tactics among elites worldwide.
Author's summary: Elites use offshore secrecy tactics regardless of regime type.