Economic Affairs

A Pandora's Box of hidden assets

The latest revelations raise some tough questions about financial secrecy

It's no surprise that the world's super-rich buy palatial mansions, Picassos, luxury yachts and private jets. What is more interesting though is that many of them hide these assets in shell companies that make it difficult to know who the true owners are.

The so-called Pandora Papers, released by the International Consortium of Investigative Journalists (ICIJ) on Oct 3, uncover more of these financial shenanigans and their perpetrators.

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A version of this article appeared in the print edition of The Straits Times on October 13, 2021, with the headline 'A Pandora's Box of hidden assets'. Subscribe