Want to hide some money from the government? For years, the answer was simple: Put that money offshore! Historically, the U.S. has done little to regulate and enforce laws on offshore accounts.

But now, that mantra is no longer true. Offshore accounts are no longer as safe from the U.S. government's watchful eye, and regulations are soon to become even tougher.

As highlighted by the UBS and Credit Suisse cases between 2009 and 2011, the U.S. government has recently begun regulating offshore bank accounts on a heavier basis. This creates a myriad of legal issues for lawyers dealing with large banks, as they need to ensure the company complies with U.S. regulation wherever they are conducting business.