Snow Washing Conduit

For decades shell companies and bank accounts in poorly regulated jurisdictions offered sufficiently strong solutions for the majority of international money launderers and tax evaders.

However, a relatively new weapon of choice has emerged – the second passport issued by countries such as Malta, Cyprus and several Caribbean states, including Antigua & Barbuda St Lucia and Grenada.

In fact, Malta and former British colonies in the Caribbean like Antigua & Barbuda have rapidly become the hot favourites because of their Commonwealth links worldwide, which permit visa-free travel to more than 168 and 134 countries respectively, including the Schengen region of Europe.

This aspect of indiscriminately provided dual citizenship added to the recent trend of "snow washing" has sent alarm bells ringing around the world.