Panama papers exposing the world



Our world is plauged by offshore shell companies. These companies are known for money laundering and tax evasion. They plague our world with their illegal actions.

20 people from Peru’s tax agency have secured all of the accounting documents that belonged to Monica Ycaza Clerc, a representative of the global law firm, Mossack Fonseca. The seizure was part of a plan to see if any tax evasion cases correspond to the names mentioned in the Panama Papers.

What are the Panama Papers? They are over 11.5 million leaked confidential documents. These documents held the names over over 200,000 offshore companies that have been a part of illegal actions. Several of these documents were recently published this month, after an anonymous person by the psuedoname of John Doe released the documents in a German newspaper.

These papers have not only affected Latin America, but the whole world.  British Prime Minister David Cameron, fought the allegations that were made towards his father. According to Aljazeera news, Cameron said, “Aspiration and wealth creation are not dirty words.”

These papers have been successful in identifying numerous illegal shell companies and individuals. Authorities are continuing to stay on the lookout and expose these people for the illegal actions they have participated in.

What will this mean for the world? Will we end up exposing the numerous offshore companies that continue to evade taxes and commit frauds? Only time will tell.