Panama bombshell spells demise of shadow finance, and privacy – Telegraph.co.uk
7 months ago Comments Off on Panama bombshell spells demise of shadow finance, and privacy – Telegraph.co.uk
“We believe there’s an international campaign against privacy. Privacy is a sacred human right that is being eroded more and more in the modern world. Each person has the right to privacy, whether they are a king of a beggar,” it said.
It is unclear why some world leaders, or members of their family, are posted on the ICIJ’s rogue’s gallery as somehow implicated in the affair.
The Argentine leader Mauricio Macri, the King of Saudi Arabia, and a sister of the former King of Spain are all flagged, yet the supporting documents do not suggest that they have done anything wrong. Critics say there is a risk of a witchhunt and vigilante publicity.
Yet what seems clear is that off-shore finance will never be the same again after these revelations.
“The Panama Papers seem to confirm the evidence from elsewhere that the world’s corrupt elite are gaming the international financial system to launder and protect their stolen wealth,” said Robert Barrington from Transparency International.
Few would disagree.
Panama bombshell spells demise of shadow finance, and privacy – Telegraph.co.uk}