{"id":6475,"date":"2026-03-04T11:41:46","date_gmt":"2026-03-04T10:41:46","guid":{"rendered":"https:\/\/www.benefitax.de\/2024\/12\/04\/black-money-high-risk-of-discovery\/"},"modified":"2026-03-04T12:51:44","modified_gmt":"2026-03-04T11:51:44","slug":"black-money-why-is-the-risk-of-being-found-particularly-high-now","status":"publish","type":"post","link":"https:\/\/www.benefitax.de\/en\/black-money-why-is-the-risk-of-being-found-particularly-high-now\/","title":{"rendered":"Black money – high risk of discovery?"},"content":{"rendered":"\t\t
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So-called tax havens are facing great political pressure. As a result, more and more of them are abandoning their banking secrecy or no longer accepting black money in the first place. Exchanging information with other financial administrations is now often a priority. Corrupt bank employees burn bank customers’ data onto data carriers and sell them to tax authorities. They buy the data and analyze it. This is followed by inspection notices and then letters or even house searches in which the tax evaders are confronted with their offenses. Once the officials are on the doorstep, it is too late to make a voluntary disclosure, as the tax office has already learned of the offense. <\/p>

Why is black money no longer “safe” in any tax haven in the world? The shortest possible answer: see the Panama Papers. The somewhat more detailed answer: all offers to conceal black money are dubious per se. Moreover, it is only a matter of time before even the most remote tax havens commit to exchanging information, restrict their banking secrecy or identify the names and data of bank clients and pass them on to foreign tax authorities on request. Some of these tax havens have foreign exchange restrictions, i.e. I cannot get my money back without restrictions – or taxes are withheld. The banks or their employees are often corrupt and charge horrendous fees that eat up the tax advantage. <\/p>

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