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Apr 4, 2016 @ 8:53

PanamaPapers breaks the Internet with revelations of global corruption

 

A year-long investigation by global journalists has revealed how a shady network of rich and powerful world leaders use offshore tax havens to hide their vast wealth, launder money, dodge sanctions and evade taxes despite legal requirements in place that should prevent exactly those things from occurring.

Dubbed the Panama Papers, 11 million encrypted internal documents — 2.6 terabytes worth — from Panamanian law firm Mossack Fonseca shine a light on secret offshore holdings from 128 politicians and public officials across the globe, including 12 current and former world leaders.

Dealing in offshore business is not illegal. But the use of offshore tax havens by heads of state and top officials raises serious questions.

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