Action is being taken by some of Britain's Crown dependencies and overseas territories to act against the crackdown threatened by Gordon Brown and other world leaders.
There are 35 small states and territories that face possible sanctions after political leaders in France, Germany and the UK have decided to get tough on havens in preparation for the G20 summit next month, and US legislation was passed last week to endorse anti-tax haven action.
Prominent offshore havens are calling for a more discriminate approach to the crackdown, the FT reports.
'The thing we worry about is we are being tarred with the same brush as everyone else,' said Geoff Cook from Jersey Finance, which represents the island's financial industry.
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