The Panama papers
Data leak names politicians, celebrities, and criminals in its revelations on tax evasion around the world. But what do the leaks mean for you?
An unprecedented data leak of more than 11.5 million files from the law firm, Mossack Fonseca has revealed how the world’s rich hide their wealth. Approximately $20 trillion dollars is said to be hidden in offshore banks. The International Consortium of Investigative Journalists (ICIJ) this weekend went public with its findings that the firm has allegedly helped clients evade or avoid tax, launder money or mask its origins.
Thousands of people are named in the papers including celebrities, well known criminals and politicians like Russian President Vladimir Putin, relatives of the leaders of China, Britain and Pakistan, and the presidents of Argentina and Ukraine. In Iceland’s capital, Reykjavik, thousands took to the streets after hearing their prime minister and his wife are alleged to be involved with a shell company; he stepped aside on Tuesday. Global investigations have begun but the full impact it has is yet to be seen as more information is released.
Legally there has been little wrongdoing, but while workers and smaller businesses are paying full taxes, global corporations and world’s rich have been paying less and less, if at all. On Thursday we’ll discuss this impact this has on your education, your infrastructure and your security. Join us at 1930GMT.
On this episode of The Stream, we’ll speak to:
Mark Hays @Miercoles_Hays
Senior Advisor on Money Laundering, Global Witness
Will Fitzgibbon @WillFitzgibbon
Reporter, International Consortium of Investigative Journalists
Steve Topple @MrTopple
Journalist
Casey Kelso @caseyrights
Advocacy Director, Transparency International
Do the Panama Papers matter to you? What impact do you think they’ll have?