Scottish Limited Partnerships are still laundering criminal millions

Offshore is actually onshore.

A key lesson from the Pandora Papers is that “tax haven” is a gross misnomer. In reality, the distant, finance-blighted treasure islands are not where the dirty money ends up — of course not, there’s nothing to buy there.

The “offshore” sector is like a pinball flipper — plutes and crooks bounce their money off of these tiny, out-of-the-way places, and they fire it back across the ocean, typically through an “onshore-offshore” secrecy haven.

https://pluralistic.net/2021/10/04/avoidance-is-evasion/#transparency

In the USA, there are several states that compete to be the intermediate resting place these secret fortunes: Delaware, the granddaddy of them all, has been surpassed by Wyoming, Nevada, and, most recently and ferociously, South Dakota.

In the EU, onshore-offshore nations like Cyprus, Malta and Luxembourg bend over backwards to launder great, ugly fortunes into the rich world, where they can acquire real-estate, yachts, supercars, and large stakes in voracious private equity firms.

But when it comes to onshore-offshore, no one can hold a candle to the UK. It’s not just its globe-spanning commonwealth of treasure islands, nor the close-to-hand…