Secrecy Laws

Offshore jurisdictions have laws that forbid financial institutions (brokerages, banks, insurance companies, etc.) and advisors (brokers, attorneys, accountants, investment advisors, etc.) from divulging information about accounts or clients to any third party. These laws apply whether the third party is a company, person or government. Once a depositor puts their money into a bank or brokerage account offshore, by law, only they will know about it.