Outside of the EU and free of its restraints, Europe's top two tax havens - Monaco and Andorra - are seeing an influx of funds to their banks, despite governments worldwide actively trying to stop their citizens using tax havens to bank their money. The financial industry in Monaco is attracting money from wealthy individuals seeking a degree of privacy, and keeping their assets away from the clutches of their governments at record levels with most of the money coming from the Middle East and Europe. While the banks will not disclose the volume of money they have attracted recently, some industry analysts estimate it could be as much as 20 billion Euros over the last eighteen months, with 70 billion in total managed assets overall.
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