William Brittain-Catlin Investigates 'Offshore' In his new book Offshore: The Dark Side of the Global Economy, reporter Brittain-Catlin delves into the shadowy world of offshore banking. He estimates that one-third of the world's wealth — or $7 trillion — is held in farflung locales such as the Cayman Islands.
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William Brittain-Catlin Investigates 'Offshore'

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William Brittain-Catlin Investigates 'Offshore'

William Brittain-Catlin Investigates 'Offshore'

William Brittain-Catlin Investigates 'Offshore'

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  • <iframe src="https://www.npr.org/player/embed/4771334/4771335" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

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In his new book Offshore: The Dark Side of the Global Economy, reporter Brittain-Catlin delves into the shadowy world of offshore banking.

He estimates that one-third of the world's wealth — or $7 trillion — and 80% of international banking transactions take place in the shadowy offices of banks in the Cayman Islands or the Islamic financial center of Labuan, Malaysia.

Giant corporations such as Wal-Mart, BP and Citigroup hide their profits in these institutions, away from the eyes of investors and regulators.

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