Can offshore financial centers be used for money laundering? Please explain how and under what circumstances?
Offshore financial centers
An offshore financial center or OFC is defined as a “country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy.” Many motives drive the move of funds offshore and increase the activity of offshore financial centers. Some are completely legal, while others focus more on criminal activity. Offshore finance often brings to mind illegal activities such as money laundering and tax evasion. Over the years, these shady dealings have become associated with offshore banking due to its lax regulations and strict adherence to client secrecy. Banking secrecy is paramount to money laundering. Since concealing the money`s source is the objective of laundering it, secrecy is obviously very advantageous to the process. This available secrecy is what drives much of the illegal market offshore.
Over the past century the field of criminology has changed drastically, with ideas like intersectionality quickly becoming more dominant when attempting to explain crime and the driving forces behind it. Gender has become increasingly important in the quest to understand criminal statistics and the disparities between the sexes. Gendered behaviors influence even street level crimes in more ways than the early criminologists would have ever believed. One important question is how does the re-construction of gender occur and influence offenders and how can examining crime through an intersectional framework help us understand it? I firmly think that the gendered behaviors, or the action of “doing gender” by offenders, plays an important role in crime and that the intersectional framework can provide serious opportunities to further understand how gender, race, and class intertwines with crime.
It is important to first understand how men and women re-construct gender on the streets. Typically, men are the “inner circle” of the gang, and this immediately leads to gender stereotypes being reinforced. The men reinforce stereotypes they have absorbed from the wider society, like family or media. They then enforce these stereotypes on the rest of the gang, especially the women. In a study published in the International Journal for Crime, Justice and Social Democracy, titled Homegirls, Hoodrats and Hos: Co-constructing Gang Status through Discourse and Performance, Dr. Abigail Kolb and Dr. Ted Palys (2016) investigate this phenomenon in street gangs. Women who join a gang by sleeping with one or more members are not respected and are seen as “hoodrats”. They are not trusted with important matters and are seen as quick to snitch if caught. W