Monday: Financial secrets of the rich and powerful exposed in biggest ever leak of offshore data. Plus: is the pursuit of Inbox Zero an unwinnable war?
by Bermet Talant
Good morning. The biggest ever leak of offshore data has exposed the financial secrets of the world’s rich and powerful. A new report shows that people in insecure, lower-paid positions have been hardest hit by the pandemic. And Donald Trump has asked a court to force Twitter to restore his account.
The secret deals and hidden assets of some of the world’s richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history. Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands. More than 600 journalists have sifted through the files as part of a massive global investigation.
The Pandora Papers revealed the details of how Asiaciti Trust, the Singaporean offshore services provider founded by the Australian accountant Graeme Briggs, handled its business relationship with high-profile Russians. The documents reveal alleged failings in Asiaciti’s compliance with anti-money-laundering and counter-terrorism funding (AML-CTF) rules. They show Asiaciti’s regulator, the Monetary Authority of Singapore (MAS), cited Asiaciti’s handling of some transactions involving two of the Russians as examples of the business failing to adequately corroborate the source of its clients’ funds.
Read more on :https://www.theguardian.com/australia-news/2021/oct/04/morning-mail-pandora-papers-sydney-familys-covid-battle-quest-for-inbox-zero?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1633291988