Why public must know who really owns a company
Akhbar Satar | 04 May 2018 00:30
The Panama Papers, the world’s biggest leak, highlighted the complex ways used by companies and individuals to conceal who the actual beneficiaries of a company are.

The information was leaked from the database of the fourth biggest offshore law firm, Mossack Fonseca.

Someone from the firm is alleged to have leaked 11.5 million financial and legal records, exposing a system that appeared to facilitate economic crime.

The Panama Papers reveal that 12 national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.

Some of them put their money into offshore accounts such as in Labuan, which is also an offshore financial centre and tax haven.

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