Pandora Papers vs. Facebook Files

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NEW YORK, Oct 4 (Reuters Breakingviews) – It’s no shock that presidents, prime ministers and one king have used secretive offshore monetary preparations. Jordan’s King Abdullah and Czech Republic Prime Minster Andrej Babis are amongst these talked about within the large Pandora Papers document leak to the International Consortium of Investigative Journalists. As with the recent exposé by the Wall Street Journal contrasting Facebook’s (FB.O) public statements and inside workings, although, it helps to bolster perceptions with details.

Activities involving disclosure-shy regimes from the Seychelles to South Dakota, as disclosed within the Pandora Papers, aren’t unlawful in themselves. Nor is their facilitation by intermediaries reminiscent of Morgan Stanley (MS.N) and Baker & McKenzie. They can, nonetheless, be used to cover wealth, together with from tax collectors. Many of these named deny wrongdoing learn extra . If there may be any, although, the three terabytes of knowledge scoured by the ICIJ ought to assist discover it.

That’s additionally what the Facebook knowledge drop would possibly obtain. The social community is aware of its platform could cause hurt. It says it tries to mitigate destructive results. But enterprise objectives and a rosy self-image get in the best way. Detailed documentation can lower by way of the spin on all sides. The take a look at – of both leak – will probably be whether or not it brings enhancements. (By Richard Beales)

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Editing by Lauren Silva Laughlin and Amanda Gomez

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The loading screen of the Facebook application on a mobile phone is seen in this photo illustration taken in Lavigny May 16, 2012. REUTERS/Valentin Flauraud/File Photo