Because the laws of the Caymans allow corporations to keep owners and directors secret. So once money hits the Caymans it becomes nearly impossible to trace.
This film sort of explains it. https://en.wikipedia.org/wiki/The_Laundromat_(2019_film)
this post was submitted on 18 Apr 2026
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Any place with low taxes, low or rich people favorable oversight over the financial sector, or chance to park money anonymously is a place rich people gravitate to.
I don't know, but I'd wager it has something to do with not paying as many taxes.
They needed a tropical alternative to the icy snowy world of Switzerland
they put the money in a hoel
London designed them specifically to be a tax haven.