The Panama Papers

The Panama Papers refer to a massive leak of documents in 2016 from a Panamanian law firm called Mossack Fonseca. These documents revealed how wealthy individuals, politicians, and celebrities used offshore tax shelters to hide their assets and evade taxes. The information exposed widespread tax evasion and money laundering practices, leading to global investigations and public outrage about financial secrecy. Key figures in various countries were implicated, prompting calls for reform in tax laws and increased transparency in financial dealings to combat corruption and ensure that everyone pays their fair share.