Pandora’s files contain 6.4 million documents, about 3 million images, over one million emails, and about 500,000 spreadsheets.

So far, the content revealed in Pandora’s documents includes:

These documents reveal how some of the world’s most powerful people, including more than 330 politicians from 90 countries, are using secret beach companies to hide their wealth.

Lakshmi Kumar of Global Financial Integrity, a US think tank, explained that these people are “transferring, transferring and hiding money” and are often used by unknown companies.

Pandora documents reveal complex networks of multinational corporations, often leading to more hidden ownership of money and property.

For example, one may own property in the UK but acquire it through a group of companies in other countries or “offshore”.

Features of these offshore countries or regions are:

These destinations are often referred to as tax centers or secret jurisdictions. There is no clear list of tax havens, but the most well-known tax havens include the British overseas territory of the Cayman Islands and the British Virgin Islands, as well as countries such as Switzerland and Singapore.

Legal loopholes allow people to avoid paying certain taxes by transferring funds or placing them at tax centers, but this is generally considered immoral. The British government has said that tax evasion “involves acting in the literal sense of the law, not in the spirit of the law.”

There are legitimate reasons why people in different countries want to seize money and property, such as to protect themselves from criminal attacks or to prevent unstable governments.

While it is not illegal to secretly acquire foreign assets, using a complex network of secret companies to transfer funds and assets has become the best way to cover up criminal proceeds.

Following the opening of the previous “Panama Documents”, the public has repeatedly asked politicians to increase the difficulty of tax evasion or concealment of property.

But the Pandora document said “those who can end beach secrets … they take advantage of it too, so they have no incentive to end it.”

All you have to do is set up a shell company in a top secret area or in the offshore countries mentioned above. It is a dead company with no employees or offices.

But it will cost money. You must pay a fee to the professional companies that set up and run a shell company for you. These companies can provide an address and the names of the paying directors so there is no clue as to who is the ultimate boss behind the company.

This is difficult to say, but according to the International League of Investigative Journalists, the figure ranges from $ 5.6 trillion to $ 32 trillion. According to the International Monetary Fund, the use of tax havens costs governments around the world $ 600 billion in tax revenue each year.

Kumar said it was detrimental to other parts of the society. “The ability of (the rich and powerful) to hide money directly affects your life … it affects your children’s education, health, and the likelihood of buying a home.”

Britain has been criticized for allowing anonymous foreign companies to seize citizens’ property.

In 2018, the British government announced draft legislation that would require the final owners of British real estate to be announced. But it is still waiting to be submitted to lawmakers.

According to a 2019 parliamentary report, the UK system “attracts money launderers and others who want to use their assets to hide illicit funds.”

The report says criminal investigations are often “interrupted” because police are ultimately unable to identify who owns the property.

The British government has recently raised the risk of money laundering through real estate from “moderate” to “advanced”.

The British government has stated that it will pass strict laws and regulations to curb money laundering and will present a register of offshore companies that own British assets if parliamentary time allows.

The Pandora documents reveal nearly 12 million documents and archives revealing the secret wealth and dealings of world leaders, politicians and billionaires. The data was obtained by the International Federation of Investigative Journalists (ICIJ), based in Washington, D.C., which led the largest global survey ever conducted. More than 600 journalists from 117 countries are digging deep into the hidden treasures of some of the world’s most powerful people. The British investigation is led by the BBC’s Wide Angle and Guardian.