Never have so many institutions and people availed themselves of cryptocurrency investments and offshore banking firms as is so happening today. Typically, those that are up to no good, and therefore need not only plausible deniability, but desperately do not want tax authorities or any other authority for that matter, to know their financial business or the amount of their offshore financial assets, find that the lure of offshore banking with its deliberate labyrinth structure to be ideal to hide their assets and therefore to permit these people and institutions to thereby make all sorts of secretive investments as well as to take other actions, without the conscious concern that they will be found out.
While it almost goes without saying, that such opaqueness and the hiding of assets in order to avoid taxation or civil forfeiture and the like, is beneficial exclusively for the party so engaging in such; this though is not the entire truth, for in reality, those offshore banking institutions, count on one very important fact, which is that some of these people, such as, for instance, highly placed individuals in unstable governments, as well as high-level drug traffickers, aren’t necessarily going to be alive for the long run. This thus signifies, that when the impenetrability to those assets is incredibly secure, that when a given person dies or essentially becomes disappeared, that even those that had a pretty good inkling that these former people or institutions held cryptocurrency or had offshore banking assets, that they themselves are often going to find it very problematic to secure those assets as next of kin, or fellow business partner, and so on and so forth. In other words, offshore banking institutions, delight in structuring assets in such a way, that the provability of the ownership of such, along with the appropriate beneficiary, so of, is a difficult task to prove, signifying that those assets that remain dormant for a suitable period of time, essentially become “found capital” for those offshore banking enterprises.
That said, at least for those with offshore banking accounts, there is a reasonable chance, that money so lost, might be re-discovered; as compared to cryptocurrency which prides itself on having no central authority and no paper trail, signifying that those that were so fortunate as to have a significant amount of assets in cryptocurrency, don’t have any good recourse against someone else extracting such through coercion and force, or should they subsequently simply become a non-person, so to speak, the asset in essence, is no longer theirs.
Those then, that are using all the tricks of the trade to hide their valuable assets, might seem to be always having the best of it, but when unexpected and unanticipated events happen, the end result may be, that the money that was earmarked for themselves, family, or their associates, might just end up in the hands of that offshore banking institution, that basically has the found money, and are not too surprisingly, somewhat reluctant to let go of it; and even if they do give it up, they typically have very good control of the narrative, and hence not all that is returned to somebody that has proven their legitimate provenance, is all that was actually there.