5. USA
Bank Score: 0 FSI Score: 19 Total Score: 19
(FSI Score breakdown: FSI Rank: 5; FSI 1,254.7)
The lack of prominent American names in Panama Papers has cast a shadow of doubt on its handlers’ integrity. They have been publicly accused of manipulating the source documents for political purposes. But the truth is much simpler. Americans don’t need to go to Panama to find a safe haven for their money. They have plenty of them at home. Delaware and Nevada are often named as two states that have done their utmost to bend their banking laws to ensure the flow of foreign capital. The basis for the USA becoming an offshore banking location was established in 1921 when the Revenue Act exempted bank deposits owned by foreign nationals for taxation. Although in theory, US citizens shouldn’t benefit from this, once the money is transferred through several shell companies registered in various parts of the world, it can be very difficult to trace the original owner.
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