‘Come meet us in Dubai’: the new offshoring of grand corruption

In a revealing 2017 interview, an African high-net-worth individual recounted being advised by a London-based executive to relocate their business dealings to Dubai. This anecdote underscores a significant yet underappreciated global trend: the migration of sensitive financial activities from traditional Western hubs to more lenient jurisdictions. This shift, driven by stricter regulations on dubious foreign funds in established financial centers, has breathed new life into corrupt practices while complicating efforts to combat them.