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The Panama Papers form a leaked set of 11.5 million confidential documents created by the Panamanian corporate service provider Mossack Fonseca that provide detailed information on more than 214,000 offshore companies, including the identities of shareholders and directors. The documents identify (as directors and shareholders of such companies) current government leaders from five countries — Argentina, Iceland, Saudi Arabia, Ukraine and the United Arab Emirates — as well as government officials, close relatives and close associates of various heads of government of more than 40 other countries, including Brazil, China, Peru, France, India, Malaysia, Mexico, Pakistan, Russia, South Africa, Spain, Syria and the United Kingdom. Comprising documents created since the 1970s that amount to 2.6 terabytes of data, the papers were supplied to the Süddeutsche Zeitung in August 2015 by an anonymous source, and subsequently to the U.S.-based International Consortium of Investigative Journalists (ICIJ). The papers were distributed to and analyzed by about 400 journalists at 107 media organizations in more than 80 countries. The first news reports based on the set, along with 149 of the documents themselves, were published on April 3, 2016, and a full list of companies is to be released in early May 2016.

Panama Papers Series

To really tackle corporate tax evasion we need a public register

Sep 12, 2016 02:05 am UTC| Insights & Views Politics

The Australian government shouldnt rely on leaks like that of the Panama Papers to pick up on tax evasion, it should consider stronger action. The federal government showed some leadership earlier this year by...

Panama Papers Series

Why British law doesn't necessarily apply in overseas territories

May 05, 2016 16:59 pm UTC| Law

Until the Panama Papers scandal broke, it would have been easy to think that the widest possible definition of the United Kingdom is England, Wales, Scotland and Northern Ireland. But the territory is much wider than that ...

Panama Papers Series

Panama Papers revelation: we must rethink data security systems

May 04, 2016 12:31 pm UTC| Insights & Views

The surge of information leaks from highly confidential sources in recent years demonstrates the futility of current cyber defenses. The leaks of U.S. diplomatic cables, Office of Personnel Management data, CIA...

Panama Papers Series

Should tax collection be privatised?

Apr 20, 2016 06:08 am UTC| Insights & Views Business Law

The release of the Panama papers is yet to reach its endgame, but there are some clear truths we can take from it. People or businesses who dont pay their taxes whether deliberately or through ignorance undermine state...

Panama Papers Series

Did you cheat on your taxes? Here's why your days may be numbered

Apr 18, 2016 04:28 am UTC| Insights & Views Law

The so-called Panama Papers span thousands of pages, revealing that many of the worlds elite have been hiding their money in offshore accounts in an attempt to shield their income from taxes. Their release the biggest...

Panama Papers Series

Why Europe's new tax initiative is a big deal

Apr 15, 2016 15:16 pm UTC| Insights & Views Law

Public outcry over revelations in the Panama papers about global levels of tax dodging has led to political action. Europes five largest economies the UK, France, Germany, Italy and Spain have agreed to new transparency...

Panama Papers Series

Should all politicians publish their tax returns? Here's what we might find

Apr 14, 2016 08:04 am UTC| Insights & Views Law Politics

Public pressure has forced Britains prime minister, David Cameron, to publish a summary of his taxable income, and a string of UK politicians have followed suit. The moves comes in the wake of the Panama Papers data leak,...

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Economy

Australian bonds continue to rally tracking upward pressure in U.S. Treasuries

Australian government bonds ralliedon Thursdaytracking firmness in the U.S. Treasuries as investors risk sentiments weighed down by renewed geopolitical caution towards US negotiations with North Korea and China. The...

Australia’s headline construction rises below expectations in Q1

Australias headline construction figure for the first quarter came in below expectations; however, the details of the report were strong. Construction rose 0.2 percent sequentially in the March quarter, with a mix of...

U.S. new home sales miss consensus estimates, suggest a soft start to Q2

The United States new home sales fell by 1.5 percent m/m in April, to 662k. This was below the consensus estimates of 680k, although the m/m rate of decline was in line with what Barclays Research had forecast. The miss...

Asia-Pacific’s macroeconomic environment remains intact, albeit at the cost of trade and capital risks: S&P Ratings

The favorable macroeconomic environment in Asia-Pacific remains intact, although risks relating to capital flows and trade have increased, according to the latest report titled APAC Economic Snapshots--May 2018, published...

U.S. Treasuries spurge on safe-haven demand following massive sell-off in Turkish Lira

The U.S. Treasuries jumped during North American session Wednesday as investors crowded into safe-haven assets, following a massive sell-off in the Turkish Lira. Also, the 5-year note auction, scheduled to be held today by...

Politics

The first terrorist act in Indonesian prison: the triggers and how to prevent them

Indonesia witnessed another terrorist act last week. But, this time, it occurred in a maximum-security detention centre located at the polices Mobile Brigade headquarters in Depok, West Java. More than 150 terrorist...

Would America vote for Oprah for president?

America has had a black president. Is the country ready for a black president who is also a woman? Speculation about the candidacy of Oprah Winfrey makes clear that some voters think so. Granted, Winfrey says she...

Lawyers keep secrets locked up – so they get asked to do the dirty work

Lawyers seem to at the center of lot of scandals lately. President Donald Trumps personal lawyer, Michael Cohen, whose office and hotel were raided by the FBI, is only the latest example. Harvey Weinsteins law firm...

Rise of cryptocurrencies could curb American power

There has been a lot of talk in foreign policy circles of the coming post-American world in which the international system will transition from a unipolar to a multipolar system. But, as we currently stand, the US remains...

Debate: On secularism in the 21st century

In January 2018 the French commemorated the Charlie Hebdo attacks that occurred three years earlier. The expression of American solidarity then toward the victims in France was quick and unwavering just as it was in the...

Science

Scientists Just Found A Black Hole That Is Eating Everything In Its Path

Black holes are some of the most terrifying subjects in the realm of science. Not only do they offer a glimpse into the raw power that is present in the universe, they also invoke undefinable terror in those who imagine...

Salt Could Prevent Hearing Loss After An Explosion

In movies, whenever a bomb goes off or an explosion occurs, there is that iconic moment where sounds are muffled and there is a high-pitched ring that pervades the whole scene. While films can go over-the-top with regards...

Scientists Want To Make Dogs Live Longer

Dogs are some of the most endearing creatures on the planet and one of the most tragic things about them is their short lives, at least when compared to humans. Depending on the breed, they can live from 7 to 15 years, on...

700,000-Year-Old Find Proves Early Humans Settled The Philippines Longer Than Previously Thought

Archeologists recently made a monumental discovery in the Philippines that pushes back the earliest period of human settlement in the region that was previously thought by over 600,000 years. Rhino bones and tools that...

States Sue EPA Over Rollbacks Of Environmental Protection Regulations

The Trump administration might not believe in climate change and could not care less about the environment, but the rest of the US does. This is why 18 states so far are now suing the Environmental Protection Agency for...

Technology

Bank of America wins Blockchain Patent for Security Measures

Bank of America has recently been awarded control over a patent that allows users verified access to certain blockchain network. The patent was given on May 22 as reported by the US Patent and Trademark Office...

Google No Longer Believes In “Don’t Be Evil” Mantra, Finally Joins The Dark Side

Since its founding, Google had a few central mottos that its founders abided by and one of them is Dont Be Evil. This has guided the companys actions for over two decades and one that many of its employees firmly believed...

Gamers Will Literally Play Anything, Even A Home Renovation Simulator

In a development that will likely infuriate some indie developers who have created video games that follow traditional examples of the industry, gamers are apparently going nuts over a new game on Steam called House...

Google Is Looking At $4.3 Billion Loss Thanks To UK Lawsuit

Google spying on users has become the norm these days and most people have learned to look past the fact that the search engine company is now in their lives in much deeper ways than their closest loved will ever be....

Resident Evil 7 Comes To The Switch, But Just Through The Cloud

Playing Resident Evil 7 on the Switch is a dream for a lot of players and it seems this dream is coming through in a roundabout way. Yes, the game will soon become available on the Nintendo portable console hybrid....
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May 24 00:00 UTC Released

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