A study conducted in 2021 revealed that Bolivia was the country that most enabled financial secrecy in Latin America and the Caribbean. Based on a constructed index that analyzes 20 indicators, Bolivia scored 79.1 points, even higher than other well-known tax havens in the Caribbean, such as the Cayman Islands or the Bahamas. The higher the score, the more a jurisdiction's legal and financial system facilitates the hiding of private finances.
Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory
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the higher the score, the more a country enables financial secrecy
Supplementary notes
Financial secrecy scores are evaluated across 20 indicators, each composed of
several sub-indicators that look at the presence or absence of specific laws and
policies, as well as specific combinations of laws and policies, that enable financial
secrecy. The more a country’s laws and policies program a country’s tax and
financial systems to facilitate the hiding of private finances, the higher a financial
secrecy score the country gets.
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Tax Justice Network. (November 16, 2021). Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
Tax Justice Network. "Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory." Chart. November 16, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
Tax Justice Network. (2021). Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
Tax Justice Network. "Financial Secrecy Index Score in Latin America and The Caribbean in 2020, by Country or Territory." Statista, Statista Inc., 16 Nov 2021, https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
Tax Justice Network, Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory Statista, https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/ (last visited July 22, 2024)
Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory [Graph], Tax Justice Network, November 16, 2021. [Online]. Available: https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
