The Organization for Economic Cooperation and Development has removed the Marshall Islands from its list of "uncooperative" and "harmful" tax havens as the group continues to pare down the destinations for money laundering.

The OECD has been working to cut down on the number of countries that act as offshore tax havens and convince more of them to commit to financial transparency by exchanging information on tax matters with other nations. Last month, the organization removed Liberia from its list of uncooperative tax havens. Only three countries remain on the uncooperative list: Andorra, Lichtenstein and Monaco.

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