One Year Anniversary of Panama Papers Leak

More than 11 million documents were leaked from a law firm based in Panama a year ago today. The "Panama Papers" implicate various global figures and officials in possible acts of fraud and corruption.

"The Panama Papers reveal a secret network of shell companies and firms that can hide when government officials steal from their people,” noted Eric LeCompte, Executive Director of the religious development group Jubilee USA. “Congress can shine a spotlight on these activities. Congress needs to act.” 

Several members of Congress are expected to introduce legislation to help law enforcement track who actually owns anonymous shell companies. The House Financial Services Committee set up a special subcommittee on terrorist financing to address this issue.

"Congress can make it harder to use anonymous shell companies to launder money,” stated LeCompte. "Anonymous shell companies are part of why poor countries lose more money in tax evasion and corruption than they receive in aid.”

Read more about the Panama Papers