Les Paradis, Rapport Annuel

There are more than 800,000 companies based in the British Virgin Islands, but only 28,000 inhabitants. Image © Paolo Woods and Gabriele Galimberti

In the summer of 2016, 11.5 million documents from the world’s fourth largest offshore banking law firm were leaked by an anonymous source, exposing financial and attorney-client information of more than 214,000 offshore companies. The Panama Papers, as they are known, reveal some of the complex structures that allow the extremely wealthy to exploit offshore banking and shell corporations to commit fraud, tax evasion, money laundering, and other crimes.

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