Sun Sets on Offshore Banking as Assets Worth $11 Trillion Uncovered

Cointelegraph

Published Jul 02, 2020 12:33PM ET

Updated Jul 02, 2020 08:20PM ET

The Organization for Economic Cooperation and Development, or OECD, reported on Tuesday how automatic reporting in 2019 helped uncover $11 trillion worth of assets in offshore accounts.

The result came as the Common Reporting Standard, or CRS, entered its third year of operation since its launch in 2017.

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