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Journalists obtain leaked information on over 120,000 offshore companies and trusts.

The International Consortium of Investigative Journalists today announced what it calls “…one of the biggest financial leaks in history.”  They say the files include the names of 4,000 Americans and details are already emerging regarding several high-profile individuals.  “The leaked records, mainly from the British Virgin Islands, the Cook Islands and Singapore, disclose proprietary information about more than 120,000 offshore companies and trusts and nearly 130,000 individuals and agents, including the wealthiest people in more than 170 countries.”  This is just another example of what I have been advising clients for years.  Legal wealth preservation structures must be capable of surpassing court and audit scrutiny in all relevant jurisdictions, and those who are non-compliant need to resolve their issues before it’s too late.  Click here to read more about the leak.  You may also be interested in this article I wrote for the Daily Business Review called “So you have unreported foreign bank accounts and income, now what?”  Those who prefer to avoid problems before they happen can learn more about how we help multinational families proactively protect their assets and reduce their tax burden to the legal minimum by clicking here for English or here for Spanish.