Offshore tax havens are areas that have very low tax rates or countries whose regulations and laws do not prescribe tax levies at all. Taxes are a fiscal instrument for collecting public revenues for the purpose of settling public expenditures. Offshore financial centers allow you to open a bank account and deposit money in another country where taxes are lower and where their wealth will be secure and anonymous. Anonymity, tax burden and tax rate, limited regulations and easier access to money are some of the main characteristics of OFC and therefore attract clients and their investment in these areas. Offshore banking is legal until the moment when the tax haven begins to be associated with criminal acts such as tax evasion, terrorist financing, organized crime and other criminal acts. Offshore financial centers have recently discovered how wealthy individuals launder money through this type of banking and thus conceal the real source and trace of illegally acquired wealth. Money laundering takes place through three phases, laying, lying down and integrating. After three phases, the money is lost, illegal funds are integrated into financial flows and the money becomes ready for further financing. The world is evolving rapidly, the economy, telecommunications, information system and technology are enabling the globalization of the world, faster flow of information and connecting people. Globalization also contributes to the development of existing offshore tax havens, but also to the creation of new, modernized and attractive areas for depositing client wealth.