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Panama Papers database goes online today - Mossack Fonseca

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Panama Papers database goes online today - Mossack Fonseca

Today is Monday 9th May 2016 and we are providing a very brief update on the Panama Papers affair.

The Panama Papers affair which we published a video on only a few weeks ago concerning Mossack Fonseca has now widened, as a huge database of documents relating to more than 200,000 offshore accounts were posted online at 18:00 GMT at offshoreleaks.icij.org.

The Panama Papers have shown how some wealthy people use offshore firms to evade tax and avoid sanctions. The documents have revealed the hidden assets of hundreds of politicians, officials, current and former national leaders, celebrities and sports stars.

They list more than 200,000 shell companies, foundations and trusts set up in more than 20 tax havens around the world.

Last week Fonseca issued a "cease and desist " order to prevent the database being made public but the organisation that has the documents, the International Consortium of Investigative Journalists (ICIJ), appears to be going ahead regardless.

There are now moves being made in a number of quarters to abolish these tax havens, and it will be interesting to see how successful they will ultimately become.

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