Hong Kong based international tax lawyer Philip Marcovici’s new book - The Destructive Power Of Family Wealth - is a thought-provoking and fascinating reflection on the author’s years of practice both in Hong Kong and in Switzerland, and (unintentionally) marks the end of the free-for-all era in the offshore world and its recent inundation by the twin imperatives of modern compliance, in the form of the OECD’s Common Reporting System (CRS) coupled with the inclusion of tax evasion within the panoply of money-laundering offences (AML).  

CRS is new and still currently unfolding, whereas AML ...