A study conducted in 2020 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
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 20, 2020). Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory [Graph]. In Statista. Retrieved May 28, 2022, 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 20, 2020. Statista. Accessed May 28, 2022. https://www.statista.com/statistics/1224441/financial-secrecy-index-latin-america-caribbean-country/
Tax Justice Network. (2020). Financial secrecy index score in Latin America and the Caribbean in 2020, by country or territory. Statista. Statista Inc.. Accessed: May 28, 2022. 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., 20 Nov 2020, 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 May 28, 2022)
