Monday, April 04, 2016

About the Panama Papers...

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.

In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.

The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes. Full story...

Related posts:
  1. Revealed: the $2billion offshore trail that leads to Vladimir Putin...
  2. Mossack Fonseca leaks reveal Xi Jinping's family links to offshore companies...
  3. Samsung, Hyundai, Rolls-Royce implicated in $1tn oil industry corruption...
  4. Putin ‘is the richest person in the world until he leaves power’
  5. Budget 2016: Wealth of super rich soars as the worst-off lose out, report says...
  6. 62 world’s richest people own same wealth as half the world...
  7. Richest 1% of people own nearly half of global wealth...
  8. Top 1% taking lion's share of global growth...

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