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William Brittain-Catlin Investigates 'Offshore'

Cover of <i>Offshore: The Dark Side of the Global Economy</i> by William Brittain-Catlin
Cover of <i>Offshore: The Dark Side of the Global Economy</i> by William Brittain-Catlin

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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