Every now and then we think a secrecy jurisdiction (tax haven) has gone out of business. Nauru was one we believed had fallen into its own black hole of secrecy.

But sometimes they re-emerge, as this web site proves.

The benefit for a place like Nauru of pursuing activity like his is marginal - they might make only a few tens of thousand of dollars a year and yet suffer massive potential regulatory costs for doing so, but still the abuse goes on, imposing a cost on everyone else in society.

It makes no sense to allow this. Buying off these smaller jurisdictions is an entirely realistic possibility, and needs to be done as a matter of priority.