By SocProf.

So, today, we heard that records from the UK’s offshore banking industry had been leaked and therefore, a whole bunch of rich people had their practices and assets exposed:

“Millions of internal records have leaked from Britain’s offshore financial industry, exposing for the first time the identities of thousands of holders of anonymous wealth from around the world, from presidents to plutocrats, the daughter of a notorious dictator and a British millionaire accused of concealing assets from his ex-wife.

The leak of 2m emails and other documents, mainly from the offshore haven of the British Virgin Islands (BVI), has the potential to cause a seismic shock worldwide to the booming offshore trade, with a former chief economist at McKinsey estimating that wealthy individuals may have as much as $32tn (£21tn) stashed in overseas havens.

(…)

The names have been unearthed in a novel project by the Washington-based International Consortium of Investigative Journalists [ICIJ], in collaboration with the Guardian and other international media, who are jointly publishing their research results this week.

The naming project may be extremely damaging for confidence among the world’s wealthiest people, no longer certain that the size of their fortunes remains hidden from governments and from their neighbours.”

LOL. Woe is them.

Read the full list.

But don’t feel too sorry for them. They won’t run out of places to hide their money anytime soon. The choices are almost endless. Check out this map from Le Monde, pointing out the range of known potential destinations:

Click on the image for a larger view.

And for a more interactive approach on the multiple choices available to those who want to hide their assets, check out this interactive feature from CBC News Canada:

Tax Havens 101from SocProf on Vimeo.