The Panama Papers: A Global Look into Offshore Financial Activity

 The Panama Papers is the name given to a massive leak of financial and legal documents from the Panamanian law firm Mossack Fonseca. The papers, which were leaked in 2016, contain information about more than 214,000 offshore companies, including the names of the individuals and organizations associated with them.

One of the key findings of the Panama Papers was the high number of individuals and companies from certain countries that were mentioned in the documents. The countries with the highest number of individuals and companies mentioned in the papers include:

  1. China - Over 22,000 individuals and companies from China were mentioned in the Panama Papers. This includes many wealthy and powerful individuals, as well as state-owned companies.

  2. Russia - More than 18,000 individuals and companies from Russia were mentioned in the papers. This includes many wealthy businesspeople, as well as members of the Russian government and political elite.

  3. Hong Kong - More than 14,000 individuals and companies from Hong Kong were mentioned in the papers. This includes many wealthy individuals, as well as large companies based in the territory.

  4. United States - More than 9,000 individuals and companies from the United States were mentioned in the papers. This includes many wealthy individuals, as well as large companies based in the country.

  5. United Kingdom - More than 8,000 individuals and companies from the United Kingdom were mentioned in the papers. This includes many wealthy individuals, as well as large companies based in the country.

It's worth noting that being mentioned in the Panama Papers does not imply any wrongdoing or illegal activities. However, the leaks have led to investigations, criminal charges, and regulatory actions against many individuals and companies, which have revealed illegal activities such as tax evasion, money laundering, and bribery.

Overall, the Panama Papers have had a significant impact on the public perception of offshore financial activity, and have led to calls for greater transparency and regulation of the offshore financial industry.

Read More: The Pandora Papers a global scandal

Jukka Tapaninen linken to MIami real estate money laundering scheme

Hugo Sluimer accused of money laundnering in Miami Florida refuses to release US tax returns

ICIJ is donor-supported — Their ability to create more stories that rock the world relies on funding from donors. Donate to the ICIJ by clicking here

Comments

Post a Comment

Popular posts from this blog

The Pandora Papers: A Global Scandal with Far-Reaching Consequences

Image
IN THE INTEREST OF THE PUBLIC The International Consortium of Investigative Journalists “ ICIJ ” published a final batch of 9,000 offshore companies, trust and foundations this year in addition to the 11.9 million records already leaked.   In total, 35 current and former national leaders appear in the leaked documents, alongside 400 officials from nearly 100 counties, more than 100 billionaires, and Finland business man and public figure  MIKKO PERTTI JUHANI PAKKANEN .   The pandora papers leaks amounted to 2.94 terabytes of corruption, tax evasion, illicit money laundering and there are of course legitimate cases included. Families like Kenya’s President Uhuru Kenyatta secretly owned a network of offshore companies for decades.   Europol’s pandora paper report warns of “parallel underground system” exploited by criminal networks.   Catherine De Bolle, Europol’s director; said the Pandora Papers showed that criminals were using offshore jurisdictions where there were “few rul
Read more

Money Laundering in the Dominican Republic: A Problem Persists despite Government Efforts

 Money laundering is the process of disguising the proceeds of illegal activities as legitimate funds. In the Dominican Republic, it is a major issue that has been linked to organized crime, drug trafficking, and corruption. According to a report by the Financial Action Task Force (FATF), the Dominican Republic has a "moderately high" level of money laundering activity. The country's strategic location, proximity to drug-producing countries, and weak institutions make it a prime destination for illicit money. One of the main methods used for money laundering in the Dominican Republic is the use of exchange houses, also known as "casa de cambio." These businesses are often used to transfer large sums of cash into the country and convert it into foreign currency, which can then be sent abroad to other countries. Exchange houses are also often used to purchase real estate and other assets, making it difficult to trace the origin of the money. Another method commonl
Read more

The Dark Side of Miami Real Estate: How Money Laundering is Tainting the Market

  Money laundering is a serious problem in Miami and other parts of South Florida. It is the process of disguising the proceeds of illegal activity as legitimate funds, and it can take many forms. One way that money laundering can occur is through the use of real estate. In Miami, there have been reports of individuals and organizations purchasing properties with illicit funds and then selling them for a profit, in order to cleanse the money and make it appear legitimate. This type of money laundering can have serious consequences for a community. It can drive up property values and contribute to gentrification, which can lead to the displacement of long-time residents and the erosion of a community's cultural identity. It can also distort the housing market, making it more difficult for ordinary people to afford to buy a home. Moreover, money laundering can have broader societal impacts. It can undermine the integrity of financial systems and create opportunities for other illegal
Read more