Dirty money in offshore banks

Isle of Man, "tax haven"

Billions of dollars and other currencies are in tax havens outside the owner’s country of origin, allowing individuals and corporations to evade taxation by their home governments. Since many of these offshore accounts are secret, it’s difficult to trace what’s legal and what is not. In new research, Brookings expert Matthew Collin, a David M. Rubenstein Fellow in Global Economy and Development, examines a leaked dataset from a bank in the Isle of Man to find some interesting discoveries about who owns these accounts. In this conversation, Collin discusses his findings and some policy ideas to address the problem of dirty money. Also on this episode, Governance Studies Senior Fellow Sarah Binder talks about what’s happening in Congress, with a look at five things you need to know about the road ahead for President Biden’s infrastructure plans in Congress. You can also listen to this audio segment on SoundCloud.

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