[PanamaLegal]

The USA claims jurisdiction when transactions are in US Dollars as well. The OECD Tax Information Exchange Agreements were designed to facilitate the exchange of tax information, not to make it hard for the governments. They color it nicely but is still based on suspicions not probable cause or evidence. If the USA gets into bank records of say a corporation owned by a USA citizen it can then go after bank records involving any incoming or outgoing transactions concerning that bank account. Again suspicions is very different from probably cause. If you arer banking in a country without any OECD tax treaties that is a massive layer of security.