Throughout the world, there are certain countries which developed a reputation for keeping financial accounts private. Many people chose to bank in these countries in order to maintain more privacy regarding their investments and finances.  In some cases, offshore accounts were also used by accountholders to avoid 100 percent compliance with tax obligations. 

Throughout the world, countries are trying to fight tax evasion and are making new efforts to use every possible resource to catch people who have made efforts to evade their tax obligations. From countries exchanging information on accountholders while discarding longstanding bankruptcy privacy laws to taxing authorities going after banks and bank executives, no stones are being left unturned in an effort to collect all possible revenue.