During an interview one of us (Ricardo Soares de Oliveira) carried out in 2017, an African high net-worth individual said he was told by an executive whose business had long served him out of London: “Come meet us in Dubai”. This is part of a large but still misunderstood shift.
In response to the hardening of rules for foreign money of dubious origins in traditional financial centres, sensitive business has been moving toward new, more permissive jurisdictions. This offshoring of services is giving corrupt strategies a new lease of life, while also making the fightback more difficult.
