The Financial Secrecy Index released on January 30, 2018, by the UK-based Tax Justice Network ranked India at 32 indicating its financial secrecy and secrecy jurisdiction.&nbsp;

Switzerland and the United States have been ranked at number one and two respectively.

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Financial Secrecy Index &mdash; 2018 Results (Others)
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The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. It is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows or capital flight.

Switzerland has retained it&#39;s number one position in 2018 followed by the&nbsp;United States making them the biggest promoters of financial secrecy. Switzerland, a well-known tax haven, was also put under the light in 2015 after information was revealed by ICIJ&rsquo;s 2015 Swiss Leaks investigation.&nbsp;

The United States has avoided being a part of initiatives towards curbing financial security and has in turn set up operations that lookout for information on US citizens abroad but does not provide data to foreign countries. The US was ranked third in TJN&rsquo;s 2015 secrecy index.

According to the FSI, an estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world.&nbsp;

Moreover, illicit cross-border financial flows have been estimated at $1-1.6 trillion per year: dwarfing the US$135 billion or so in global foreign aid.&nbsp;

Countries such as Switzerland, the US and Singapore that figure on the top 10 list of FSI-2018, are also among the top 10 FDI investors to India. Countries like Germany, Japan, Netherlands, the UK and Cyprus are also investors to India, ranked within the top 25 of the list.&nbsp;

India had a lower secrecy score of 52 and was ranked 32, among the 112 countries. India&#39;s ranking would be of interest to countries where its outbound investments flow to.

The top&nbsp;10 countries include - Switzerland, USA, Cayman Islands, Hong Kong, Singapore, Luxembourg, Germany, Taiwan, United Arab Emirates [Dubai], and Guernsey.

The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities

The Financial Secrecy Index released on January 30, 2018, by the UK-based Tax Justice Network ranked India at 32 indicating its financial secrecy and secrecy jurisdiction. Switzerland and the United States have been ranked at number one and two respectively. Financial Secrecy Index — 2018 Results (Others) × The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. It is a tool for understanding global financial secrecy, tax havens or secrecy jurisdictions, and illicit financial flows or capital flight. Switzerland has retained it's number one position in 2018 followed by the United States making them the biggest promoters of financial secrecy. Switzerland, a well-known tax haven, was also put under the light in 2015 after information was revealed by ICIJ’s 2015 Swiss Leaks investigation. The United States has avoided being a part of initiatives towards curbing financial security and has in turn set up operations that lookout for information on US citizens abroad but does not provide data to foreign countries. The US was ranked third in TJN’s 2015 secrecy index. According to the FSI, an estimated $21 to $32 trillion of private financial wealth is located, untaxed or lightly taxed, in secrecy jurisdictions around the world. Moreover, illicit cross-border financial flows have been estimated at $1-1.6 trillion per year: dwarfing the US$135 billion or so in global foreign aid. Countries such as Switzerland, the US and Singapore that figure on the top 10 list of FSI-2018, are also among the top 10 FDI investors to India. Countries like Germany, Japan, Netherlands, the UK and Cyprus are also investors to India, ranked within the top 25 of the list. India had a lower secrecy score of 52 and was ranked 32, among the 112 countries. India's ranking would be of interest to countries where its outbound investments flow to. The top 10 countries include - Switzerland, USA, Cayman Islands, Hong Kong, Singapore, Luxembourg, Germany, Taiwan, United Arab Emirates [Dubai], and Guernsey.

Switzerland, US top Financial Secrecy Index list, India at 32

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Switzerland, US top Financial Secrecy Index list, India at 32