Tourists walk along Seven Mile Beach in Grand Cayman Islands.
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Switzerland, Hong Kong and the U.S. have the world's worst records on combating financial secrecy that lets the wealthy dodge taxes or hide their money, according to a study released Monday.Most countries' secrecy score improved in recent years as governments responded to public anger over inequality and tax evasion, but the records in the United States and Germany worsened, said the Tax Justice Network's bi-annual financial secrecy index.In an attempt to crack down on tax evasion, the European Union is starting to require that multinational firms provide financial data broken down by country as well as central registers of the beneficial owners of shell companies.
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