Panama Papers Map Pinpoints Where The Wealth Is Hiding

by
Jessica Renae Buxbaum
After the release of the Panama Papers, an interactive map displays where the world's richest hides their money with surprising results.

Vladimir Putin standing in front of Russian flag

 The Panama Papers — the biggest leak in history — demonstrates how the 1 percent exploits offshore accounts and evades taxes for their own nefarious gain. To fully visualize where the rich hides their money, an interactive map is making waves across the Internet for geographically pinpointing the worldwide scandal.

Using shell companies connected to  Panamanian law firm Mossack Fonseca, the top 1 percent has laundered money, avoided sanctions, and underpaid their taxes thereby further widening the gap between the rich and poor. This online map created by Irish Times editor Brian Kilmartin highlights where in the world the corruption lies, checking off how many companies, clients, beneficiaries, and shareholders each country has.

Surprisingly, while world leaders like Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz bin Abdulrahman Al Saud are at the forefront of the exposé, the United Kingdom and Switzerland have significantly more fraudulent activity going on inside their borders. Even the United States has its fair share of corruption tucked away. 

Offshore accounts are not illegal, but are often used for illegal purposes as the Panama Papers exemplify. The wealthy can easily cheat the system for their benefit, something the public has always been aware of but now finally has concrete proof of. 

Read more: Red-Faced Icelandic PM Bolts Interview Over Panama Papers Question

Banner image credit: Twitter ?user @SputnikInt 

Carbonated.TV