From watching TV shows and movies, it looks as though you have ‘papers’ of the bank account. And usually, for dramatic effect, the papers are burned or destroyed somehow. Does this mean that their money is now lost?
And what makes it secret? Is it not in your name? If so, how do you prove its yours or have access to it? And why are they always in somewhere like the Cayman Islands?
I feel like TV shows and movies throw together plotlines about secret bank accounts constantly but I have no idea how they work.
In: Economics
I do know super rich people keep back accounts in places like the cayman Islands because it’s apparently easy easier to get around us tax laws there. I’m not sure exactly how though.
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