East European criminals and corrupt politicians have found in offshore havens a tool so perfect that it has permanently changed how business is done in the region, a major investigative report shows. By using offshore laws that stress secrecy over everything else including crime prevention, they have been able to set up networks of offshore companies where they can hide their assets from police, launder their money and evade taxes all at the same time, the report, Organized Crime, Inc., reads.
Romanian police arrested offshore consultant Laszlo Gyorgy Kiss in Bucharest in early October, one month after reporters working undercover for the Organized Crime and Corruption Reporting Project (OCCRP) recorded him explaining how to cheat on taxes with offshore companies. See here
A major crossborder investigative report by the Organized Crime and Corruption Reporting Project (OCCRP) shows how business people and politicians in Eastern Europe use offshore havens to erase tracks of money and of their identity.
Read the full report here. Here is a version in Romanian. Chapters of the OCCRP report: