< class="MsoNormal">Although it's often featured in high octane action films, utilizing offshore banking isn't actually something that's too out of this world or rare these days. One of the best reasons to use an offshore bank account is the level of privacy that type of account can provide. There are actual types of secrecy legislation that guide many of the laws used in offshore bank accounts and when a company or bank breaks this rule of confidentiality there can be some significant consequences for the bank. If banks are unable to provide the confidentiality that is offered in their advertisements, they may lose customers.