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Panama: The Hidden Trillions by Alan Rusbridger | The New York Review of Books

A great many rich individuals used one law firm to shield their money from prying eyes, whether it was tax authorities, law enforcement agencies, or vengeful former spouses. These days, most respectable banks will set up accounts for offshore companies only if their ultimate beneficial owner is named—a measure considered essential to prevent money-laundering, financing terrorism, and other forms of crime. Mossack Fonseca, by contrast, appears to have been remarkably incurious about whose money it was accepting.

Source: Panama: The Hidden Trillions by Alan Rusbridger | The New York Review of Books


Categorised as: interesting

Posted by: Kramer

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