A secrecy jurisdiction provides facilities that enable people or entities to escape or undermine the laws, rules and regulations of other jurisdictions elsewhere, using secrecy as a prime tool. A secrecy jurisdiction can be utilised not just to underpay tax but for other illicit activity like laundering money, evading sanctions and funding terrorist groups.
The Tax Justice Network’s Financial Secrecy Index provides a ranking of the world’s most important secrecy jurisdictions.