Cross border illicit financial flows have been encouraged and facilitated by intermediaries. These include
- Tax Advisers: tax attorneys and law firms, accountants, auditing firms, and other tax advisers.
- Corporate Service Providers: service providers that set up, organise and/or administer corporations, limited liability companies, trusts and partnerships in low tax / no tax jurisdictions and other “privileged fiscal” jurisdictions” - or, to use the more popular terms, tax havens (or secrecy jurisdictions.)
- Financial Institutions: commercial banks, investment banks, brokerage firms, trust companies and other financial institutions.
The purpose of the Tax Justice Network’s Intermediaries Project is to gather and publicise information about the role of Intermediaries in encouraging and facilitating cross-border illicit financial flows, and to provide suggestions as to how the problems might be tackled with offshore solutions.