I’m sure you have heard of certain nations that were blacklisted. Apparently those nations are making changes to get back into the financial world. Generally these havens are countries that support banking secrecy. The four main countries are: Philippines, Uruguay, Costa Rica and Malaysia. They are not completely “out of the frying pan”, but simply moved out of the blacklist status into the gray list status.
- The pro to this is that the more nations we get back into the overall global economy, the better.
- The con to this is the potential for hidden monies, fraud, and the need to check more deeply on those persons dealing with the mentioned nations.
Click Here for a reference article by Emma Vandore of the Associated Press as it appears in USA Today.
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