An offshore area or zone is a country or piece of land not subject to the government of an individual interested in offshore tax evasion. The term frequently used when referring to the zone is "tax haven." The banks and other financial institutions operating within this offshore financial center do so under maximum secrecy or privacy regulations. As a result, the company or individual may pay minimal or no taxes to their country of operation or origin. Offshore tax evasion has become increasingly popular over the years. Major corporations establish an account or set up shell companies in what are called "offshore zones". In this way, they establish a form of offshore tax invasion. There are, in all, some 55 such offshore zones. These include the traditional Switzerland and the British Channel Islands. There are also growing offshore tax involvement in the Caribbean Islands. The Bahamas, Antigua, Grand Cayman, Aruba, British Virgin Islands are popular among North American investors. Offshore tax evasion is a federal crime punishable by severe penalties. Recently, both Italy and the United States have declared a type of amnesty to allow Corporations and citizens to declare their offshore accounts.