The Pandora Papers have revealed how world leaders and billionaires are hiding vast sums of money in offshore accounts and mysterious companies. Follow Newsweek's liveblog for all the latest.
A major leak of financial information - dubbed the Pandora Papers - has exposed how the world's elite avoid paying billions of dollars in tax through elusive offshore accounts and companies set up in tax havens.
Several governments have already announced investigations into the findings, revealed on Sunday after analysis by over 600 journalists from dozens of media organizations.Almost a staggering 12 million documents - totaling 2.94 terabytes - were leaked from 14 companies in countries including the British Virgin Islands, Belize, Cyprus, the United Arab Emirates, Singapore, Switzerland and Panama - the source of the previous Panama Papers scandal.
Reports from the Guardian reveal that South Dakota is particularly popular with those looking to discretely move around their money, with the state sheltering billions linked to people previously accused of serious financial crimes.
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