{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Tax Heavens: How to loot a country (and get away with it)' data-url='/boclips/videos/5cddaa04c0a01f670d4c71c4' data-video-url='/boclips/videos/5cddaa04c0a01f670d4c71c4' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nTax Heavens: How to loot a country (and get away with it)\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eSecretive offshore tax havens help funnel billion of dollars out of the poorest countries and into the bank accounts of their corrupt officials. This video shows a how a dodgy politician could hypothetically abuse this shadowy financial...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eSecretive offshore tax havens help funnel billion of dollars out of the poorest countries and into the bank accounts of their corrupt officials. This video shows a how a dodgy politician could hypothetically abuse this shadowy financial network to enrich himself, and explains why we need greater financial transparency in the fight against international corruption. More \u003ca href='http://www.trust.org/' target='_blank' rel='nofollow'\u003eon\u003c/a\u003e 2013 © Thomson Reuters Foundation Transcript: Money laundering allows gangsters, terrorists and corrupt politicians to profit from their crimes. The offshore financial system makes it too easy for these criminals to hide their wealth and too difficult for the police to catch them. Here is an example of how a politician could use the secrecy of tax havens to steal from a developing country rich in natural resources. If you want to move dirty money then you need a shell company in a tax haven. Our politician chooses the Seychelles, where you can register a new firm online in under 10 minutes for just 690 euros. This company needs directors, so he pays residents in another tax haven, such as the British Virgin Islands, to use their names on all official documents. This practice is completely legal in the UK and its overseas territories. A recent investigation into these nominee directors found a group of 28 individuals who collectively controlled more than 21,500 companies worldwide. The next step is to set up a corporate bank account somewhere with strict secrecy laws. The crooked politician picks Panama, where the authorities makes life very difficult for anyone requesting information. This creates another valuable layer of secrecy, letting money launderers stay one step ahead of the authorities. The politician can then use the shell company to open a high street bank account, buy a fleet of supercars or invest in the prime real estate markets of London, Paris and New York. Even if his bank questioned how a civil servant could afford a Bugatti Veyron, it would be next to impossible to prove he had stolen the money. Offshore tax havens have made sure his name never appeared on a public register. 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