Summary of The Panama Papers Exposed a Huge Global Problem. What’s Next?

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For many of the world’s wealthy, hiding money in shell companies and offshore accounts is business as usual. Robert Palmer of Global Witness believes this may be about to change. The Panama Papers, a leak of some 11 million documents from Mossack Fonseca, a Panama-based law firm, have triggered a deluge of investigations into these murky practices. getAbstract recommends Palmer’s talk to anyone enraged by corruption among the rich, including high-placed government figures, who have deliberately hidden wealth in breach of international regulations.

About the Speaker

Robert Palmer is the banks and corruption campaign leader at Global Witness, an organization that campaigns to end corruption in the global political and economic systems.

 

Summary

In April 2016, an insider at the Panamanian law firm Mossack Fonseca leaked 11 million documents, exposing the shady practice of establishing anonymous offshore companies to avoid paying taxes on vast sums of money. The paper trail revealed secret offshore accounts tied to several high-profile politicians, including the prime minister of Iceland, who has since resigned; an ally of Syrian dictator Bashar Al-Assad; and an associate of Russian president Vladimir Putin. Hiding money to avoid paying taxes has repercussions for all members of society, as less tax revenue is available...


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    Abdul Niyaz 3 years ago
    Deprived global masses really have no idea that who is responsible for their on going problem.