{"id":362,"date":"2022-05-18T15:56:56","date_gmt":"2022-05-18T22:56:56","guid":{"rendered":"https:\/\/depts.washington.edu\/globalhealthjustice\/?p=362"},"modified":"2023-08-16T13:41:39","modified_gmt":"2023-08-16T20:41:39","slug":"usa-global-leader-on-the-2022-financial-secrecy-index","status":"publish","type":"post","link":"https:\/\/depts.washington.edu\/globalhealthjustice\/usa-global-leader-on-the-2022-financial-secrecy-index\/","title":{"rendered":"[PODCAST] USA &#8211; global leader on the 2022 Financial Secrecy Index"},"content":{"rendered":"<p>Naomi Fowler (Tax Justice Network) May 2022: \u201cWe\u2019re hearing a lot from world leaders about sanctions against Russian oligarchs at the moment. We know financial secrecy is what the powerful, the corrupt, and criminals\u00a0<em>really<\/em> love. With financial secrecy they can undermine the democratic will of any country\u2019s government. They can drain the tax revenues that stop the rest of us living secure and happy lives. So which nations are the world\u2019s worst offenders when it comes to financial secrecy? I\u2019m going to tell you, because this month the Tax Justice Network\u2019s released the latest results of the Financial Secrecy Index. Our specialist team ranks countries every two years on how secretive their financial and legal systems are. Then, they combine that with how big a financial secrecy global player they are \u2013 in other words, how much damage they\u2019re doing in the world.<\/p>\n<p>So, this\u00a0<em>isn\u2019t\u00a0<\/em>a list of the world\u2019s most secretive jurisdictions, as is sometimes\u00a0<em>mis<\/em>reported. It\u2019s a list of countries ranked according to the level of secrecy services a country offers customers,\u00a0<em>combined\u00a0<\/em>withits size as a global player. I\u2019ll give you an example \u2013 the very beautiful Maldives is a highly secretive jurisdiction \u2013\u00a0<em>but<\/em>\u00a0it\u2019s a really small player globally doesn\u2019t have a significant impact on\u00a0<em>global<\/em>\u00a0financial secrecy \u2013 so it\u2019s not at the top of the index. So it\u2019s logical isn\u2019t it, that the bigger a financial secrecy supplier a nation is, the more responsibility they have to reduce their secrecy services because they\u2019re doing more damage. So\u2026this is a ranking you\u00a0<em>don\u2019t<\/em>\u00a0want to be at the top of. So, here\u2019s the top ten \u2013 our 2022 roll call of shame\u2026<\/p>\n<p>At number 1 is the United States, with the worst rating ever recorded by the Financial Secrecy Index. Followed by Switzerland, Singapore, Hong Kong, Luxembourg, Japan, Germany, UAE, British Virgin Islands, Guernsey.&#8221;<\/p>\n<p><em>it\u2019s no longer time for the US to pretend that it can enact and create a less corrupt global environment and foster democracy without looking internally and cleaning up its own house and catching up with global norms. It\u2019s time to walk the talk.\u201d Ryan Gurule, Fact Coalition<\/em><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ZvVGdxLfRx\">\n<p><a href=\"https:\/\/taxjustice.net\/2022\/05\/18\/the-financial-secrecy-index-2022-in-the-tax-justice-network-podcast-the-taxcast\/\">The Financial Secrecy Index 2022 in the Tax Justice Network podcast, the Taxcast<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;The Financial Secrecy Index 2022 in the Tax Justice Network podcast, the Taxcast&#8221; &#8212; Tax Justice Network\" src=\"https:\/\/taxjustice.net\/2022\/05\/18\/the-financial-secrecy-index-2022-in-the-tax-justice-network-podcast-the-taxcast\/embed\/#?secret=ZvVGdxLfRx\" data-secret=\"ZvVGdxLfRx\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Naomi Fowler (Tax Justice Network) May 2022: \u201cWe\u2019re hearing a lot from world leaders about sanctions against Russian oligarchs at the moment. We know financial secrecy is what the powerful, the corrupt, and criminals\u00a0really love. With financial secrecy they can undermine the democratic will of any country\u2019s government. They can drain the tax revenues that stop the rest of us living secure and happy lives. So which nations are the world\u2019s worst offenders when it comes to financial secrecy? I\u2019m&#8230;<\/p>\n","protected":false},"author":3,"featured_media":366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,12],"tags":[],"media_type_reference":[43],"class_list":["post-362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-theft","category-tax-evasion","media_type_reference-podcast"],"_links":{"self":[{"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/posts\/362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/comments?post=362"}],"version-history":[{"count":2,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/posts\/362\/revisions"}],"predecessor-version":[{"id":1039,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/posts\/362\/revisions\/1039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/media\/366"}],"wp:attachment":[{"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/media?parent=362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/categories?post=362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/tags?post=362"},{"taxonomy":"media_type_reference","embeddable":true,"href":"https:\/\/depts.washington.edu\/globalhealthjustice\/wp-json\/wp\/v2\/media_type_reference?post=362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}