Panama Papers: Time to get on the front foot against corruption
Today, the International Consortium of Investigative Journalists (ICIJ) will release a searchable database of over 200,000 companies, trusts, foundations and funds incorporated in 21 tax havens from Hong Kong to Nevada. This data reveals a network of offshore companies and the people behind them.
While offshore activity can have a legitimate purpose, what the Panama Papers leak shows is just how often offshore structures are used to hide corrupt activity that enriches already wealthy individuals, at the cost of ordinary citizens in poorer countries.
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