Paradise Papers Show Need to Close Beneficial Owner Loopholes

In a commentary on FCPA Blog, Shruti Shah, Vice President of Programs and Operations at Coalition for Integrity, says the leak of the Paradise Papers–a set of 13.4 million confidential electronic documents relating to offshore investments–highlights loopholes in the global financial system that allow tax evaders, money launderers, and senior public officials to utilize anonymous companies to hide their identities, conflicts of interest, and business deals.