9. Panama
Bank Score: 4 FSI Score: 13 Total Score: 17
(FSI Score breakdown: FSI Rank: 13; FSI 415.6)
A flood of 11.5 million documents regarding some 214,000 offshore companies that came from the office of Mossack Fonseca & Co has severely undermined the Panama’s status as stable offshore location. But the truth of the matter is that this is just a tip of the iceberg and that Mossack Fonseca is just one of the companies that provide corporate services in Panama, albeit one of the largest. Long term effect on Panama’s banking sector have yet to be assessed, as well as those on world’s economy.
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