In recent years, the country has been identified as an increasingly popular tax haven for the wealthy due to the low tax rate on personal income and tax exemptions on foreign-based income and capital gains. Australian millionaire retailer Brett Blundy and multi-billionaire Facebook co-founder Eduardo Saverin are two examples of wealthy individuals who have settled in Singapore (Blundy in 2013 and Saverin in 2012). In 2009, Singapore was removed from the Organisation for Economic Co-operation and Development (OECD) "liste grise" of tax havens, and ranked fourth on the Tax Justice Network's 2015 Financial Secrecy Index of the world's off-shore financial service providers, banking one-eighth of the world's offshore capital, while "providing numerous tax avoidance and evasion opportunities". In August 2016, ''The Straits Times'' reported that Indonesia had decided to create tax havens on two islands near Singapore to bring Indonesian capital back into the tax base. In October 2016, the Monetary Authority of Singapore admonished and fined UBS and DBS and withdrew Falcon Private Bank's banking licence for their alleged role in the Malaysian Sovereign Fund scandal.