Paid millions to hide trillions: Pandora Papers expose financial crime enablers, too

The Pandora Papers – pegged as the world’s largest expose of hidden wealth. Some of the files date to the 1970s. However, most of those reviewed were created between 1996 and 2020, ICIJ said. “They cover a wide range of matters: the creation of shell companies, foundations and trusts; the use of such entities to purchase real estate, yachts, jets and life insurance; their use to make investments and to move money between bank accounts; estate planning and other inheritance issues; and the avoidance of taxes through complex financial schemes. Some documents are tied to financial crimes, including money laundering”. More than 400 Australians have been named in a financial leak that exposed the secret offshore wealth of the world's most powerful leaders and billionaires. Many of the Australians named in the papers are clients of Asiaciti - an international trust that has firms in Singapore, Cook Islands, Samoa, Nevis, Hong Kong, Panama, and New Zealand. The UK government is being called on to tighten the country’s checks against “dirty money” post leak of data from 14 offshore financial services companies. The data leak exposed details about the secret financial dealings of some of the most affluent people in the world. https://kalkinemedia.com/news/world-...pers-all-about