Frequently Asked Questions
Common questions about FinScrecyInx
1What is FinScrecyInx?
FinScrecyInx (FSI) ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. It combines a qualitative assessment of secrecy with a quantitative assessment of global scale to create a ranking of countries and territories.
2How is the FSI different from a tax haven list?
Unlike simple lists, the FSI provides a nuanced ranking based on two main factors: how secretive a jurisdiction is, and how much offshore financial activity it hosts. This means that larger players in global finance can rank highly even with moderate secrecy, while smaller jurisdictions might rank lower despite high secrecy.
3How often is the FSI updated?
The FSI has transitioned to a rolling-update approach, meaning individual country assessments are updated on an ongoing basis rather than all at once. This allows for more timely and responsive data.
4Who produces the FSI?
FinScrecyInx is produced by the Tax Justice Network, an independent international network focusing on research, analysis, and advocacy in the field of tax and regulation. The methodology has been developed by TJN researchers and has been peer-reviewed.
5What are the Key Financial Secrecy Indicators (KFSIs)?
KFSIs are 20 specific indicators that measure different aspects of financial secrecy, including banking secrecy, beneficial ownership registration, country-by-country reporting, and more. Each indicator is scored and contributes to the overall secrecy score.
6Can I download the data?
Yes, all FSI data is available for download and use in research, journalism, and advocacy. You can access the full dataset through our data portal. Please cite the FSI appropriately when using the data.
7How can my country improve its FSI ranking?
Countries can improve their ranking by implementing stronger transparency measures, such as public beneficial ownership registries, automatic exchange of information, country-by-country reporting requirements, and other anti-secrecy measures outlined in our methodology.
8Is financial secrecy always illegal?
No, financial secrecy itself is not always illegal. However, excessive secrecy facilitates illegal activities such as tax evasion, money laundering, corruption, and terrorist financing. The FSI highlights jurisdictions that provide the infrastructure for these harmful activities.
Still have questions?
If you couldn't find the answer you were looking for, please visit the Tax Justice Network website or contact us directly.
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