Few instances in history have altered our perception of the global economy like the release of the Panama Papers in April 2015 — 11.5 million leaked documents detailing instances of offshore money transfers and tax avoidance from a staggering 214,448 entities in more than 50 countries. In an instant, the curtain shielding hundreds of thousands of potentially illegal financial transactions was stripped away and the general public realized our offshore financial ecosystem is not as ethical as we once may have thought.
The Panama Papers are a wake-up call that fraud is an elusive and precarious threat to global commerce. Armed with the latest technological advancements, bad actors continuously find new, cunning ways to circumvent regulatory enforcement, leaving government agencies struggling to keep up. It’s estimated by the UN Office on Drugs and Crime that money laundering annually equals between 2 percent and ... read more at: https://www.entrepreneur.com/article/316691
... read more at: https://www.entrepreneur.com/article/316691