Business, Finance & Economics

Geo Quiz / Geo Answer

Anchor Katy Clark speaks with Tom Cardamon of the Global Financial Initiative at the Center for International Policy in Washington to find out more about how these international tax havens operate.

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For today's Geo Quiz -- we're looking for good place to hide your money.

G20 leaders said this week they want to shut down global tax havens.

They asked the "Organisation for Economic Cooperation and Development" -- or OECD -- to draw up a list of worst offenders.

These are places where anyone from investors to criminals can hide their money from tax authorities in their home country.

The OECD put 4 places on a blacklist of international tax havens.

They are....

(GUEST) "The Philippines, Uruguay, Costa Rica and...."

(KATY) Hold it right there! That's Tom Cardamore of the Center for International Policy in Washington.

There's one more tax haven bandit on that list. It's a small island off the coast of Borneo and a federal territory of Malaysia...

The answer to the Geo Quiz is the Malaysian territory of Labuan. Tom Cardamore is managing director of the Global Financial Integrity program at the Center for International Policy in Washington.

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