“Our slogan is: The truth will come out.”
Mae Buenaventura, human rights and anti-poverty activist
On October 3rd, 2021, Nearly 12 million documents detailing the off-shore banking and secret financial goings-on of hundreds of high profile figures around the world were leaked.
Dubbed the “Pandora Papers”, and led by the International Consortium of Investigative Journalists, this is the largest partnership of journalists in history, including over 600 journalists. Those high profile individuals included in the drop range from people such as singer and actress Shakira, all the way to politician, and current president of Russia, Vladimir Putin, with the latter having been involved in previous controversies involving fraud.
`Others involved in the leak are the King of Jordan, who was found to own three mansions totalling $68 million purchased through offshore companies. Note that this was found while joblessness and corruption protests have plagued the streets of his country for years.
The information was acquired from 14 different offshore companies, and reveal how truly secretive the financial actions of the government are. 956 companies in offshore havens were tied to 336 high-level politicians and public officials.
This shows just how far government officials will go to avoid the taxes that they themselves implement, and just how little we really know about what is going on in the government world wide.
As of 2020, approximately 11.3 trillion dollars are stored in offshore banking. This number will only increase, as more and more public figures will be able to tie up their money in yachts, mansions, artwork, and private jets, while the millions that can barely afford to put food on the table will continue to suffer.
As a college student who will obviously end up with a lot of student debt, it absolutely disgusts me that the rich are able to hide and protect their assets while so many around the world have to continue to be mistreated by their corrupt governments and politicians.
We can never make progress towards equality and ending poverty in our society if those in charge look out for only their own wellbeing while ignoring those that they are supposed to lead.