Bermuda bows to foreign pressure, makes tax evasion an offence

Bermuda has led the way among offshore financial centres by making tax evasion an offence under its Proceeds of Crime Act.
When the amendment comes into effect, which will not be before January, 2000, foreign investigating authorities such as the US government will be able to obtain bank records and other information about people charged with, or suspected of, tax evasion offences.