Philippines 72nd most complicit in 2022 financial secrecy list
The Philippines dropped 12 spots to 72nd out of 141 jurisdictions in the Tax Justice Network’s 2022 edition of the biennial Financial Secrecy Index (FSI). The FSI ranks jurisdictions most complicit in helping individuals to hide their finances from the rule of law. The index looks for the world’s largest suppliers of financial secrecy and sheds light on the laws that governments can change to reduce their contribution to financial secrecy. The Philippines got the second lowest FSI value* among its peers in East and Southeast Asia region, only ahead of Brunei. It had a secrecy score** of 67.1, and accounted for 0.02% of the global market*** for offshore financial services.
