US overtakes Caymans and Singapore as haven for assets of super-rich
But financial secrecy index report notes if UK and affiliated tax havens such as Jersey were treated as one, it would top the list
The scale of hidden offshore wealth around the world is difficult to assess. The economist Gabriel Zucman has put it at $7.6tn (£4.9tn), while the TJN’s James Henry, a former chief economist at consultancy McKinsey, estimated three years ago it could be more than $21tn.
The US states of Delaware, Wyoming and Nevada have for decades been operating as onshore secrecy havens, specialising in setting up shell companies catering to overseas individuals and companies seeking to hide assets.