Between 1980 and 2002, new kinds of states emerged, not just tax havens, but “bridging jurisdictions,” as a National Endowment for Democracy study calls them. These are hybrid states that are a legitimate part of the international financial system, that trade normally with the democratic world, that are sometimes part of democratic military alliances, but that are also willing to launder or accept criminal or stolen wealth25 or to assist people and companies that have been sanctioned.
