Panama Papers: The Shady World of Offshore Companies

On April 15th 2016 the world witnessed one of the largest leaks in history, a set of 11.5 million documents detailing attorney-client information for more than 214,000 offshore companies, these became known as the Panama Papers and they incriminated many of the worlds most powerful leaders all of whom are associated with Mossack Fonseca, a Panamanian law firm.

At the time of their release the papers identified five then-head of state government officials from places such as Argentina, Iceland, Saudi Arabia, Ukraine, and the United Arab Emirates. It would appear that for decades people of power and criminals alike have been using this Panamanian law firm to hide their accounts and valuables in a bid to avoid seizure or having to pay taxes.

The identity of the whistleblower who leaked these materials is still very much unknown but their actions have sparked an international frenzy which has lead to a series of intense investigations that could have far-reaching implications. It is believed that we have only seen the beginning of what is to come.

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