๐ The video exposes the world of offshore finance, revealing how the super rich hide massive amounts of money through hidden assets and income.
๐ Lawyers and accountants play crucial roles in creating and managing complex financial structures in tax havens around the world.
๐ฐ Professional wealth managers profit from providing services to the super rich, including setting up offshore companies and offering ongoing advice.
๐ Millions of internal documents from offshore providers were leaked, revealing the vast wealth amassed by an accountant named Graham Briggs.
๐ผ Graham Briggs played a key role in turning the island nation of Samoa into a tax haven and was involved in lobbying governments to allow offshore finance.
๐ด Samoa, despite its small size, has become home to tens of thousands of international companies and has faced criticism for its lack of transparency as a tax haven.
๐ฐ The leaked documents also exposed the use of offshore companies by politically exposed persons (PEPs) to invest in the Sydney property market.
๐ Offshore finance is still flourishing, allowing individuals to hide ownership and launder money.
๐ฐ Australian property market is becoming increasingly unaffordable due to competition from potential billionaires and tycoons from foreign countries.
๐ Opaque offshore structures make it difficult for Australian banks to uncover ownership and monitor the flow of money into Australian property.
๐ฐ Offshore finance in Australia contributes to rising house prices and affordability issues.
๐ The Pandora Papers reveal a secret world of offshore wealth and its impact on the already rich.
๐ The investigation exposes politicians and world leaders with secret offshore assets and connections.
๐ฐ Offshore finance in known havens allows a handful of people to loot resources and hinder country development.
๐ Russia serves as a high-risk financial destination for offshore activity, with connections to corruption and money laundering.
๐ Asia City, a trust company in Singapore, faced criticism for inadequate anti-money laundering controls and systemic lapses.
๐ Offshore finance is still flourishing, despite efforts by revenue authorities to combat hidden income and assets.
๐ฐ Australian authorities launched a major tax fraud investigation, uncovering over a billion dollars in unpaid taxes and penalties.
๐ Asia City's Samoan superannuation scheme allowed clients to avoid Australian taxation through loans from the super fund.
๐ผ Offshore finance is still flourishing, with service providers self-regulating the industry.
๐ The lack of government oversight in offshore finance poses a significant problem.
๐ฐ Billions of dollars in tax revenue are lost each year due to offshore financial centers.