Looking to hide your wealth? There's no country more helpful than the US

President Joe Biden has made transparency reforms a key pillar of his foreign policy, vowing to tackle tax evasion and money laundering

For individuals looking to hide their wealth, there’s no country more helpful than the United States.

That’s according to research by the Tax Justice Network, which ranked countries by the extent their financial and legal systems help people and entities conceal ownership of assets. According to this measure, the US has increased its supply of financial secrecy to the world by almost a third since 2020, earning it the worst rating since rankings began in 2009.

“These rankings show how corrupt actors are weaponizing our financial system against democracy,” said Ian Gary, executive director at the US-based Financial Accountability & Corporate Transparency