Panama Papers reveal elite's tax havens

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.

Dubbed the Panama Papers, the anonymous leak yesterday of 11.5 million confidential documents implicate several major officials, including Russian President Vladimir Putin, Iceland Prime Minister Sigmundur David Gunnlaugsson and representatives of soccer association FIFA.

Overall, the documents show 12 current or former heads of state and at least 60 people linked to current or former world leaders in the data.

According to BBC News, the papers show how Panamanian law firm Mossack Fonseca has helped clients launder money, dodge sanctions and evade taxes.

Read more from BBC News.