The Panama Papers "is a news leak of confidential documents from the offshore tax haven specialist law firm Mossack Fonseca. The leaks exposed assets of political officials and other prominent officials that were previously undisclosed. The leak consists of 11.5 million internal documents from Mossack Fonseca. An anonymous source contacted the German newspaper Süddeutsche Zeitung over a year prior to the leak. The newspaper subsequently shared the files with the International Consortium of Investigative Journalists. The papers were distributed and analyzed by 107 media organizations across 78 countries. Their first reports were released on April 3, 2016. The full list of companies are said to be released in early May."
Ex-EU commissioner Neelie Kroes failed to declare directorship of offshore firm - 21 September 2016
"Leak of files from Bahamas corporate register reveals former head of Europe’s antitrust watchdog was recruited by UAE venture set up to buy Enron assets...
The information comes from a leak of 1.3m files from the Bahamas corporate registry, which has brought to light the names of directors and shareholders at nearly 176,000 shell companies, trusts and foundations located in the Caribbean tax haven."
Panama Papers: Mossack Fonseca leak reveals elite's tax havens- 4 April 2016 "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." (BBC)
Panama Papers Q&A: How assets are hidden and taxes dodged - 3 April 2016
"The revelations in the millions of papers leaked from the Panamanian law firm Mossack Fonseca uncovering a suspected money laundering ring run by close associates of Vladimir Putin may leave readers drowning in a sea of confusing terms and phrases.
They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax." (BBC)
World Bank Official: Panama Papers Hurting Public Trust - Text + Audio - 15 April 2016
"The documents show how rich people and world leaders have tried to hide their money and avoid paying taxes.
World Bank Managing Director Sri Mulyani Indrawati says information in the papers may make everyday citizens less willing to pay taxes."
#ResignCameron Rises after 'Panama Papers'- Text + Audio- 8 April 2016
"People on social media are demanding that a second European leader resign this week.
They are talking about British Prime Minister David Cameron, after his father was named in the newly-released “Panama Papers.”
With more than 125,000 tweets, the hashtag #resigncameron trended worldwide on Twitter."
Mossack Fonseca: Law Firm Behind 'Panama Papers'- Text + Audio- 8 April 2016
"For nearly 40 years, a law firm in Panama helped drug dealers, criminals, corrupt politicians, sports stars and billionaires avoid paying taxes. Among them are the prime ministers of Iceland and Pakistan, the president of Ukraine and the King of Saudi Arabia."
Iceland Leader Resigns after 'Panama Papers' Release- Text + Audio - 5 April 2016 "New reports on how the wealthy and powerful use foreign accounts to avoid taxes are drawing lots of anger. And it led directly Tuesday to the resignation of the Iceland prime minister. He and his wife invested overseas with a Panamanian law firm that helps the wealthy avoid taxes."
Leaked Files Show How Rich Hide Their Money- Text + Audio - 4 April 2016
"One Washington Post columnist calls it the "biggest global corruption scandal in history.” Financial documents obtained from a law firm in Panama provide information about the offshore accounts of some of the world’s most powerful people. Reporters looked at 11 million documents."
The Panama Papers, explained with piggy banks
"A massive document leak reveals the secrets of shell companies. Matt Yglesias explains, adapting an analogy from reddit user DanGliesack:
Revealed: How the rich and powerful hide their wealth - VIDEO - 3 april 2016
"The documents, to which the BBC has had access, show how a law firm helped clients launder money, dodge sanctions, and evade tax. Among the papers are suspicious deals involving a close friend of Russian President, Vladimir Putin."
The Panama Papers: Victims of Offshore
"The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world's rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions.
Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.
Behind the email chains, invoices and documents that make up the Panama Papers are often unseen victims of wrongdoing enabled by this shadowy industry. This is their story.
For more, go to panamapapers.icij.org" (YouTube)
Explained: What Do The Panama Papers Reveal
"Individuals who have set up offshore entities through the Panama law firm. Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of remittances to subscribe to shares in an offshore entity acquired at an earlier date. Still, some others have received income earned abroad and deposited it in the entity to avoid tax. Some have opened a bank account to keep payoffs in government contracts, or held “proceeds of crime” or property bought with money made illegally in Trusts/ Foundations."
Panama Papers - The Secrets of Dirty Money
"Over a year ago, an anonymous source contacted the Süddeutsche Zeitung and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady."
Iceland leader quits over Panama Papers (April 07, 2016) - a lesson plan with AUDIO "The prime minister of Iceland quit on Tuesday because of a new global financial scandal.
Sigmundur Gunnlaugsson resigned because his name was in secret documents..."
The Clearstream Affair "Between 2001 and 2002, two books were published by co-authors Denis Robert and Ernest Backes, entitled "Révélation$" and "La Boîte Noire", accusing Clearstream of being a money laundering organisation and the worldwide centre for international financial crime committed by major banks, shell companies and organised crime all over the world. An investigation opened by the Luxembourg authorities in 2001 found no evidence to support the authors' allegations and the case was dismissed in 2004. In 2004, a list leaked to a French judge indicated that Clearstream was a money laundering organisation covering illegal activities of French businessmen who were involved in the sale of warships by Thomson-CSF to Taiwan and related bribes paid to French officials and businessmen. An investigation that included the search of Clearstream's premises and an examination of accounts in 2004 found no evidence supporting the accusations.
In the same year, additional anonymous letters and CD-Roms sent to French judges accused Clearstream of running secret accounts for criminals and senior French politicians. In late 2005, French investigating authorities officially declared the documents as forgeries and dismissed the case." (Wikipedia)
Swiss Leaks (or SwissLeaks) "is the name of a journalistic investigation of a giant tax evasion scheme allegedly operated with the knowledge and encouragement of the British multinational bank HSBC via its Swiss subsidiary, HSBC Private Bank (Suisse).
In February 2015, the International Consortium of Investigative Journalists (ICIJ) website released information about bank accounts in Switzerland under the title Swiss Leaks: Murky Cash Sheltered by Bank Secrecy. The investigation was conducted by over 130 journalists in Paris, Washington, Geneva, and 46 other countries. Investigators allege that 180.6 billion euros passed through accounts held with HSBC in Geneva by over 100,000 clients and 20,000 offshore companies between November 2006 and March 2007. The data for this period comes from files stolen from HSBC Private Bank by a former staffer, software engineerHervé Falciani, and handed to French authorities in late 2008. The disclosed information has been called "the biggest leak in Swiss banking history".The ICIJ alleges that the bank profited from tax evaders and other clients."
The world's most beautiful tax havens(14)
"A selection of the world's most beautiful tax havens - along with their Financial Secrecy Index (FSI), according to the Tax Justice Network."
Tax havens to ease bank secrecy - A text and an audio report - 13 March 2009
"Amid growing pressure over tax evasion and money laundering, two small European states, Liechtenstein and Andorra, have agreed
to ease strict bank secrecy rules."
+ Vocabulary explained (BBC)