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Can shame deter the ultra wealthy from using offshore accounts?

Can shame deter the ultra wealthy from using offshore accounts?

Update: 2024-09-19

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Earlier this week we explored the offshore financial system, where foreign companies and wealthy individuals can stash their wealth under especially favorable financial conditions. Today, we’re hearing about ways to discourage the ultra wealthy from hiding their cash offshore. Turns out good ol’ shame may hold some answers. But first, we examine how rate cuts might affect the housing market. Plus, who’s going to foot the bill for the Francis Scott Key Bridge?

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Can shame deter the ultra wealthy from using offshore accounts?

Can shame deter the ultra wealthy from using offshore accounts?

Marketplace / David Brancaccio and Leanna Byrne