Angola’s Biggest Threat Is Offshore − and It's Not Piracy Mailey ,J. R. ASSET STRIPPING BANKING SECRECY CAPITAL FLIGHT CORRUPTION CROSS BORDER NATURAL RESOURCES OFFSHORE SMUGGLING TAX HAVENS GOOD GOVERNANCE The article demystifies the popular belief that piracy is the major economic threat in Angola in actual fact it is offshore shady dealings that fuel IFFs. Angola has lost far more revenue to offshore secrecy than it could ever lose to offshore piracy. There are many incidences where Angolan oil has disappeared offshore. For decades, a tiny clique revolving around the president of Angola has deftly used anonymous shell companies to loot billions in state assets. These shell companies are incorporated in 'offshore' financial centres known as 'tax havens' or 'secrecy jurisdictions'. Secrecy jurisdictions do not require firms to disclose the identities of their beneficial owners, the individuals who ultimately control and benefit from the company, and dozens of countries around the globe fall into this category. Corrupt officials, predatory investors, and criminals all use these anonymous firms to evade scrutiny and operate with near impunity. This has devastating consequences for economic growth, good governance, and security. London Think Africa Press 2014. 2014. Text 4p. http://iffoadatabase.trustafrica.org/iff/angola’s_biggest_threat_is_offshore_−_and_it's_not_piracy.pdf