The U.S. ranks third in the world in financial secrecy, behind Switzerland and Hong Kong but ahead of notorious tax havens such as the Cayman Islands and Luxembourg, according to the Tax Justice Network. "It is no secret that U.S. banks, particularly in Miami, are awash in undeclared Latin American money," wrote Cotorceanu. "How ironic — no, how perverse — that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour."
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