A massive leak of documents from Panamanian law firm Mossack Fonseca has revealed how powerful politicians and businessmen from across the world have used secret tax havens to launder money, avoid sanctions and dodge tax laws.
The revelation, described as the biggest leak in history, linked to 12 current of former heads of state, including Iceland’s prime minister, who has faced street protests calling on him to resign. Amongst the 140 politicians from more than 50 countries revealed in the leak, were more than 60 relatives and associates of politicians.
Individuals or companies who are subject to sanctions, including those based in Iran, Zimbabwe, Syria and North Korea, were also customers of the law firm.
The Irish Times produced an interactive map which also showed three companies based in Sri Lanka, with a total of 22 shareholders. A full list of companies and individuals associated with them is set to be released in early May.
Human rights lawyer Geoffrey Robertson QC told the BBC that offshore tax havens allow “vast numbers of wealthy people to hide their wealth”.
"A blind eye is being turned which has enabled some firms that are on international sanctions lists to move their money in total secrecy to avoid those sanctions,” he added.
The founder of Mossack Fonseca meanwhile has dismissed the leak as a "witch hunt".