Panama Papers: Mossack Fonseca leak reveals elite's tax havens

Panama Papers: Mossack Fonseca leak reveals elite's tax havens

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth. Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca.

They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax. The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing. The documents show links to 72 current or former heads of state in the data, including dictators accused of looting their own countries. Gerard Ryle, director of the ICIJ, said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.

"I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents," he said.

I am admittedly not a big follower of offshore financial stuff as it were but I happened upon this article. I was first struck by the word 'leak' in the title... and was like 'hmmm... a leak is always potential for an ATS discussion'.

Since I'm not completely up to speed on this topic, for those that are... how will this leak effect the general public... if at all?

a reply to: UberL33t

It's already been posted here.

Long time, no see

Thread closed.