Money Laundering & Offshore Finance

In 2016, the secrecy world of finance (involving offshore finance, shell companies & tax

havens) came to the forefront of world news when the Panama Papers were published by

ICIJ. The Panama Papers is the name given to the huge data leak from Panamanian law firm

Mossack Fonseca. Mossfon was one of the world’s largest creators of shell companies,

foundations and trusts that were used by clients to hide ownership of assets. The Panama

Papers are now just one of several huge leaks (including Paradise Papers, Offshore Leaks,

Swiss Leaks) that highlight the power and gravitas of these covert financial structures.

Although it is not illegal to create these companies, many criminals abused these

opportunities as a means to finance corruption and illegal activities. The public revelations

shone a light on the size and scale of the secrecy world and how it has affected societies and

economies.

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What are the benefits of offshore finance and what are the negatives? Which case is

stronger?

How do money-laundering and offshore finance undermine governments? Is there a moral

case to be made for both sides?

How impactful is offshore finance in driving corruption? Are there other forces at work?