‘Pandora papers’ show London is a key hub for tax avoidance

By PAN PYLAS
Associated Press

LONDON (AP) — The British government is facing calls to tighten up defenses against “dirty money” after a leak of offshore data showed how London, in particular, is the venue of choice for some of the world’s richest and most powerful people to conceal their cash. The cache of almost 12 million files, dubbed the “Pandora Papers” and published by the International Consortium of Investigative Journalists and its media partners, including Britain’s Guardian newspaper and the BBC, sheds light on the financial activities of many members of the global elite. The U.K. and London specifically are prominent in the data dump, with the documents reportedly showing how prominent figures from around the world, set up offshore companies to secretly buy property.