Where does the money flow?

Unlike earlier Wikileaks’ exposes, the recent Panama Papers revelations were quite selective, targeted, edited and carefully managed. Most observers attribute this to the political agendas of its mainly American funders.

Nevertheless, the revelations have highlighted some problems associated with illicit financial flows, as well as tax evasion and avoidance, including the role of enabling governments, legislation, legal and accounting firms as well as shell companies.

The political tremors generated by the edited release of 11 million documents were swift. Nobody expected Iceland’s prime minister to resign in less than 48 hours, nor the British prime minister to publicly admit that he benefited from the hidden wealth earned from an opaque offshore company of his late father...