Why the Panama Papers Are a Big Deal
Last week, the first results of a masterpiece in investigative journalism, civic attitude and international collaboration started to show up. Lots of people owning great fortunes ran into the misfortune of having not only their hidden wealth, but also their tax-avoiding ways exposed to the world at large, thanks to a massive document leak.
The Panama Papers consist of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies.