A company may legitimately move offshore for the purpose of tax avoidance or to enjoy relaxed regulations. Offshore financial institutions can also be used for illicit purposes such as money laundering and tax evasion. Increased pressure is leading to more reporting of foreign accounts to international tax authorities. Large tech offshore companies formation such as Apple, IBM, and Microsoft offshore their departments to other countries. Countries like the Philippines and India are the top offshoring destinations for IT companies because of their infrastructure and staffing. Furthermore, offshoring addresses common challenges in business operations.