The security concerns of designed spaces : size matters

Abstract

Recent years have seen a crescendo of complaints by the OECD, the EU, governments of large countries, and ‘tax justice’ organizations vilifying the practice of offshore finance. “Through complex networks of financial centres and secrecy jurisdictions – serviced by an infrastructure of accountants, lawyers and bankers – countries are deprived of a sufficient tax base to support good governance, and illicit activities that feed corruption and violent conflict are encouraged.” As a result, the offshore financial system should be “… recognised as a threat to human security” (MacKenzie 2012: 1). In the wake of a systematic process of crackdown, shaming and condemnation, many small states and territories have had to take measures that improved the transparency and reduced the anonymity of their offshore finance regimes. And yet, the world of offshore finance is not going away any time soon. Just because the small guy is at the wrong end of the stick does not mean that the big guy gets to have his way. Just being controversial does not mean that offshore finance centres, and the states that host them, will go out of business.