Written by Paul M Heywood.
Although the size and scale of the Panama Papers leak was shocking, the offshore dealing they revealed was hardly a surprise. After all, many organisations, including Transparency International, Global Witness, Action Aid, Christian Aid, Corruption Watch, and Tax Justice Network have long expressed their concerns about money laundering and the role of enablers.
The Panama Papers have revealed a lot about the ways in which the rich and powerful hide their wealth – and many of them are legal. But while there’s no evidence that Mossack Fonseca has done anything illegal, the reporting has suggested links between some offshore shell companies and organised crime and money laundering. The data, we’re told, reveals a vast underbelly of corruption associated with Panama – and other offshore banking destinations.