According to Nicholas Shaxson, the City of London is hiding the stolen money of the world.
Questions:
- What is the name of the new data leak exposing financial dealings by more than 330 politicians and public officials from over 90 countries and territories?
- In your own words explain why the offshore financial ecosystem is so complicated.
- What is the estimated amount of wealth held in tax havens?
- Explain whether the “London Loophole” was closed by the U.S. or what efforts may now be working against it.
Source:
Shaxson, N. (2021). The City of London Is Hiding the World’s Stolen Money. The New York Times, October 11 (Retrievable online at https://www.nytimes.com/2021/10/11/opinion/pandora-papers-britain-london.html)