The Panama Papers: Has a “Global Money Ring” of Shell Companies Been Exposed?

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Global leaders are now defending themselves after a massive leak, dubbed the “Panama Papers,” is allegedly exposing how the world’s wealthiest hide their money. CBS News correspondent Don Dahler joins CBSN with the latest details on the leak.

Governments around the world began investigating financial records for possible wrongdoing by rich and powerful leaders on Monday. A leak of four decades of documents from a Panamanian law firm Mossack Fonseca that specialized in setting up offshore companies is being scrutinized. The law firm denies any wrongdoing.

The Panama Papers

2.6 terabytes of data

11.5 million documents

4,804,618 emails

214,488 companies

The leaked documents, covering a period from 1977 through December 2015, were sent to more than 100 news organizations around the world in cooperation with the ICIJ (International Consortium of Investigative Journalists).

The Russian government says the allegations in the Panama Papers are another smear campaign to try and undermine President Putin’s leadership. CNN’s Matthew Chance reports.




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