Monday, April 12, 2010

The latest on Black Money

Guess the three jurisdictions holding the largest non-resident deposits in the world?: The United States holds over $2 trillion, while the United Kingdom, and the Cayman Islands each hold over US$1.5 trillion in private, foreign deposits.

That's according to the latest paper from Global Financial Integrity (, titled "Privately Held, Non-Resident Deposits in Secrecy Jurisdictions".

Written by Ann Hollingshead, the paper finds that these deposits have been increasing markedly since meaningful data collection efforts began in the 1990s, with current totals standing just under US$10 trillion.

That is, over half of the world's "private, foreign deposits" is, from the smallest to the largest of the three top "secrecy locations", in the Cayman Islands, the UK and the USA.

So who's going to be the first to go after the USA? Sphere: Related Content

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