Which jurisdictions are included in the FSI?

The FSI 2015 includes a ranking for 92 jurisdictions. Although we analysed 102, we did not rank ten of them because of data gaps, which meant we could not produce a comparable secrecy score or global scale weight for them. Still, each of the 102 has a detailed country report, explaining its secrecy score and providing extra data. Some country reports also contain detailed narrative reports, marked in bold and with a pdf symbol in the list below, which explore the jurisdiction's history and political economy and explain how it developed into a secrecy jurisdiction.

The country reports listed below are also complemented by far more detailed technical database reports for each jurisdiction, which provide the underlying sources and references for the country reports and a wealth of additional details.

Click on a jurisdiction in the table below to get the country report. The full list of database reports is here.

Table 1: Jurisdictions in alphabetical order

Flag Andorra (AD) Flag Latvia (LV)
Flag Anguilla (AI) Flag Lebanon (LB)
Flag Antigua & Barbuda (AG) Flag Liberia (LR)
Flag Aruba (AW) Flag Liechtenstein (LI)
Flag Australia (AU) Flag Luxembourg (LU)
Flag Austria (AT) Flag Macao (MO)
Flag Bahamas (BS) Flag Macedonia (MK)
Flag Bahrain (BH) Flag Malaysia (Labuan) (MY)
Flag Barbados (BB) Flag Maldives (MV)
Flag Belgium (BE) Flag Malta (MT)
Flag Belize (BZ) Flag Marshall Islands (MH)
Flag Bermuda (BM) Flag Mauritius (MU)
Flag Bolivia (BO) Flag Mexico (MX)
Flag Botswana (BW) Flag Monaco (MC)
Flag Brazil (BR) Flag Montenegro (ME)
Flag British Virgin Islands (VG) Flag Montserrat (MS)
Flag Brunei Darussalam (BN) Flag Nauru (NR)
Flag Canada (CA) Flag Netherlands (NL)
Flag Cayman Islands (KY) Flag New Zealand (NZ)
Flag Chile (CL) Flag Norway (NO)
Flag China (CN) Flag Panama (PA)
Flag Cook Islands (CK) Flag Paraguay (PY)
Flag Costa Rica (CR) Flag Philippines (PH)
Flag Curacao (CW) Flag Poland (PL)
Flag Cyprus (CY) Flag Portugal (Madeira) (PT)
Flag Czech Republic (-/-) Flag Russia (RU)
Flag Denmark (DK) Flag Samoa (WS)
Flag Dominica (DM) Flag San Marino (SM)
Flag Dominican Republic (DO) Flag Saudi Arabia (SA)
Flag Estonia (EE) Flag Seychelles (SC)
Flag Finland (FI) Flag Singapore (SG)
Flag France (FR) Flag Slovakia (SK)
Flag Gambia (GM) Flag Slovenia (SI)
Flag Germany (DE) Flag South Africa (ZA)
Flag Ghana (GH) Flag Spain (ES)
Flag Gibraltar (GI) Flag St Kitts & Nevis (KN)
Flag Greece (GR) Flag St Lucia (LC)
Flag Grenada (GD) Flag St Vincent & the Grenadines (VC)
Flag Guatemala (GT) Flag Sweden (SE)
Flag Guernsey (GG) Flag Switzerland (CH)
Flag Hong Kong (HK) Flag Taiwan (TW)
Flag Hungary (HU) Flag Tanzania (TZ)
Flag Iceland (IS) Flag Turkey (TR)
Flag India (IN) Flag Turks & Caicos Islands (TC)
Flag Ireland (IE) Flag United Arab Emirates (Dubai) (AE)
Flag Isle of Man (IM) Flag United Kingdom (GB)
Flag Israel (IL) Flag Uruguay (UY)
Flag Italy (IT) Flag US Virgin Islands (VI)
Flag Japan (JP) Flag USA (US)
Flag Jersey (JE) Flag Vanuatu (VU)
Flag Korea (KR) Flag Venezuela (VE)

How did we choose these jurisdictions?

Some people are surprised to see countries like France and Germany identified as secrecy jurisdictions.

Every country in the world, in fact, has at least some elements that make it a secrecy jurisdiction. This may simply be because of omission: the country has not set up the information-sharing and other mechanisms that would reduce its score to zero. Media stories and other sources indicate that France and Germany host large illicit assets from other countries, in conditions of secrecy, as their special reports explain.

The first FSI, published in 2009, contained 60 jurisdictions (see our original methodology here) which we expanded to 73 in 2011. In 2013, we expanded it to 82. For 2015 we filled it out further, by ensuring that the updated list contains:

  • All 40 jurisdictions with the highest share of financial services exports, meaning that we have added China, Finland, Mexico, Taiwan, Venezuela and Turkey.
  • All OECD members, adding Czech Republic, Estonia, Greece, Iceland, Poland, Slovakia and Slovenia.
  • Countries not previously included but which are playing or seeking to play a role in providing financial secrecy. So we have added Bolivia, Chile, Gambia, Macedonia, Montenegro, Paraguay and Tanzania.

For more details read our methodology here.

In subsequent FSIs we plan to include more jurisdictions, eventually covering all jurisdictions.