[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:01.58,0:00:05.26,Default,,0000,0000,0000,,[On April 3, 2016 we saw\Nthe largest data leak in history.]
Dialogue: 0,0:00:06.06,0:00:08.89,Default,,0000,0000,0000,,[The Panama Papers exposed\Nrich and powerful people]
Dialogue: 0,0:00:08.93,0:00:11.38,Default,,0000,0000,0000,,[hiding vast amounts of money\Nin offshore accounts.]
Dialogue: 0,0:00:11.83,0:00:14.34,Default,,0000,0000,0000,,[What does this mean?]
Dialogue: 0,0:00:15.31,0:00:18.21,Default,,0000,0000,0000,,[We called Robert Palmer\Nof Global Witness to explain.]
Dialogue: 0,0:00:20.85,0:00:25.80,Default,,0000,0000,0000,,This week, there have been\Na whole slew and deluge of stories
Dialogue: 0,0:00:25.83,0:00:29.12,Default,,0000,0000,0000,,coming out from the leak\Nof 11 million documents
Dialogue: 0,0:00:29.15,0:00:33.57,Default,,0000,0000,0000,,from a Panamanian-based law firm\Ncalled Mossack Fonseca.
Dialogue: 0,0:00:33.60,0:00:39.38,Default,,0000,0000,0000,,The release of these papers from Panama\Nlifts the veil on a tiny piece
Dialogue: 0,0:00:39.40,0:00:41.64,Default,,0000,0000,0000,,of the secretive offshore world.
Dialogue: 0,0:00:41.66,0:00:46.97,Default,,0000,0000,0000,,We get an insight into how clients\Nand banks and lawyers
Dialogue: 0,0:00:46.100,0:00:49.02,Default,,0000,0000,0000,,go to companies like Mossack Fonseca
Dialogue: 0,0:00:49.05,0:00:51.56,Default,,0000,0000,0000,,and say, "OK, we want\Nan anonymous company,
Dialogue: 0,0:00:51.58,0:00:52.97,Default,,0000,0000,0000,,can you give us one?"
Dialogue: 0,0:00:52.100,0:00:54.80,Default,,0000,0000,0000,,So you actually get to see the emails,
Dialogue: 0,0:00:54.83,0:00:56.79,Default,,0000,0000,0000,,you get to see the exchanges of messages,
Dialogue: 0,0:00:56.82,0:00:59.89,Default,,0000,0000,0000,,you get to see the mechanics\Nof how this works,
Dialogue: 0,0:00:59.92,0:01:01.32,Default,,0000,0000,0000,,how this operates.
Dialogue: 0,0:01:01.34,0:01:05.39,Default,,0000,0000,0000,,Now, this has already started\Nto have pretty immediate repercussions.
Dialogue: 0,0:01:05.42,0:01:08.02,Default,,0000,0000,0000,,The Prime Minister\Nof Iceland has resigned.
Dialogue: 0,0:01:08.04,0:01:09.26,Default,,0000,0000,0000,,We've also had news
Dialogue: 0,0:01:09.28,0:01:14.32,Default,,0000,0000,0000,,that an ally of the brutal\NSyrian dictator Bashar Al-Assad
Dialogue: 0,0:01:14.35,0:01:16.90,Default,,0000,0000,0000,,has also got offshore companies.
Dialogue: 0,0:01:16.93,0:01:22.16,Default,,0000,0000,0000,,There's been allegations\Nof a $2 billion money trail
Dialogue: 0,0:01:22.18,0:01:26.08,Default,,0000,0000,0000,,that leads back to President\NVladimir Putin of Russia
Dialogue: 0,0:01:26.11,0:01:28.57,Default,,0000,0000,0000,,via his close childhood friend,
Dialogue: 0,0:01:28.59,0:01:30.82,Default,,0000,0000,0000,,who happens to be a top cellist.
Dialogue: 0,0:01:30.84,0:01:33.44,Default,,0000,0000,0000,,And there will be a lot\Nof rich individuals out there
Dialogue: 0,0:01:33.47,0:01:37.79,Default,,0000,0000,0000,,and others who will be nervous\Nabout the next set of stories
Dialogue: 0,0:01:37.81,0:01:40.36,Default,,0000,0000,0000,,and the next set of leaked documents.
Dialogue: 0,0:01:40.39,0:01:44.57,Default,,0000,0000,0000,,Now, this sounds like the plot\Nof a spy thriller
Dialogue: 0,0:01:44.60,0:01:46.26,Default,,0000,0000,0000,,or a John Grisham novel.
Dialogue: 0,0:01:46.28,0:01:50.30,Default,,0000,0000,0000,,It seems very distant\Nfrom you, me, ordinary people.
Dialogue: 0,0:01:50.32,0:01:52.83,Default,,0000,0000,0000,,Why should we care about this?
Dialogue: 0,0:01:52.86,0:01:57.10,Default,,0000,0000,0000,,But the truth is that if rich\Nand powerful individuals
Dialogue: 0,0:01:57.12,0:01:59.78,Default,,0000,0000,0000,,are able to keep their money offshore
Dialogue: 0,0:01:59.80,0:02:02.29,Default,,0000,0000,0000,,and not pay the taxes that they should,
Dialogue: 0,0:02:02.31,0:02:06.41,Default,,0000,0000,0000,,it means that there is less money\Nfor vital public services
Dialogue: 0,0:02:06.43,0:02:09.78,Default,,0000,0000,0000,,like healthcare, education, roads.
Dialogue: 0,0:02:09.81,0:02:12.13,Default,,0000,0000,0000,,And that affects all of us.
Dialogue: 0,0:02:12.15,0:02:14.87,Default,,0000,0000,0000,,Now, for my organization Global Witness,
Dialogue: 0,0:02:14.89,0:02:18.95,Default,,0000,0000,0000,,this exposé has been phenomenal.
Dialogue: 0,0:02:18.98,0:02:23.47,Default,,0000,0000,0000,,We have the world's media\Nand political leaders
Dialogue: 0,0:02:23.49,0:02:28.14,Default,,0000,0000,0000,,talking about how individuals\Ncan use offshore secrecy
Dialogue: 0,0:02:28.17,0:02:30.56,Default,,0000,0000,0000,,to hide and disguise their assets --
Dialogue: 0,0:02:30.59,0:02:35.37,Default,,0000,0000,0000,,something we have been talking about\Nand exposing for a decade.
Dialogue: 0,0:02:35.40,0:02:40.03,Default,,0000,0000,0000,,Now, I think a lot of people find\Nthis entire world baffling and confusing,
Dialogue: 0,0:02:40.06,0:02:44.52,Default,,0000,0000,0000,,and hard to understand how\Nthis sort of offshore world works.
Dialogue: 0,0:02:44.54,0:02:47.38,Default,,0000,0000,0000,,I like to think of it a bit\Nlike a Russian doll.
Dialogue: 0,0:02:47.40,0:02:50.86,Default,,0000,0000,0000,,So you can have one company\Nstacked inside another company,
Dialogue: 0,0:02:50.88,0:02:52.99,Default,,0000,0000,0000,,stacked inside another company,
Dialogue: 0,0:02:53.02,0:02:57.43,Default,,0000,0000,0000,,making it almost impossible\Nto really understand
Dialogue: 0,0:02:57.45,0:02:59.68,Default,,0000,0000,0000,,who is behind these structures.
Dialogue: 0,0:02:59.70,0:03:02.62,Default,,0000,0000,0000,,It can be very difficult\Nfor law enforcement
Dialogue: 0,0:03:02.64,0:03:05.60,Default,,0000,0000,0000,,or tax authorities,\Njournalists, civil society
Dialogue: 0,0:03:05.63,0:03:07.89,Default,,0000,0000,0000,,to really understand what's going on.
Dialogue: 0,0:03:08.32,0:03:09.76,Default,,0000,0000,0000,,I also think it's interesting
Dialogue: 0,0:03:09.78,0:03:12.99,Default,,0000,0000,0000,,that there's been less coverage\Nof this issue in the United States.
Dialogue: 0,0:03:13.01,0:03:16.77,Default,,0000,0000,0000,,And that's perhaps because\Nsome prominent US people
Dialogue: 0,0:03:16.80,0:03:21.34,Default,,0000,0000,0000,,just haven't figured\Nin this exposé, in this scandal.
Dialogue: 0,0:03:21.36,0:03:25.29,Default,,0000,0000,0000,,Now, that's not because\Nthere are no rich Americans
Dialogue: 0,0:03:25.32,0:03:28.13,Default,,0000,0000,0000,,who are stashing their assets offshore.
Dialogue: 0,0:03:28.15,0:03:31.97,Default,,0000,0000,0000,,It's just because of the way\Nin which offshore works,
Dialogue: 0,0:03:31.100,0:03:35.49,Default,,0000,0000,0000,,Mossack Fonseca has fewer\NAmerican clients.
Dialogue: 0,0:03:35.51,0:03:38.77,Default,,0000,0000,0000,,I think if we saw leaks\Nfrom the Cayman Islands
Dialogue: 0,0:03:38.79,0:03:42.44,Default,,0000,0000,0000,,or even from Delaware\Nor Wyoming or Nevada,
Dialogue: 0,0:03:42.47,0:03:48.26,Default,,0000,0000,0000,,you would see many more cases\Nand examples linking back to Americans.
Dialogue: 0,0:03:48.28,0:03:54.20,Default,,0000,0000,0000,,In fact, in a number of US states\Nyou need less information,
Dialogue: 0,0:03:54.22,0:03:58.40,Default,,0000,0000,0000,,you need to provide less\Ninformation to get a company
Dialogue: 0,0:03:58.42,0:04:01.22,Default,,0000,0000,0000,,than you do to get a library card.
Dialogue: 0,0:04:01.24,0:04:07.02,Default,,0000,0000,0000,,That sort of secrecy in America\Nhas allowed employees of school districts
Dialogue: 0,0:04:07.05,0:04:08.95,Default,,0000,0000,0000,,to rip off schoolchildren.
Dialogue: 0,0:04:08.98,0:04:13.87,Default,,0000,0000,0000,,It has allowed scammers\Nto rip off vulnerable investors.
Dialogue: 0,0:04:14.45,0:04:18.14,Default,,0000,0000,0000,,This is the sort of behavior\Nthat affects all of us.
Dialogue: 0,0:04:18.17,0:04:20.04,Default,,0000,0000,0000,,Now, at Global Witness,
Dialogue: 0,0:04:20.06,0:04:23.32,Default,,0000,0000,0000,,we wanted to see what this\Nactually looked like in practice.
Dialogue: 0,0:04:23.35,0:04:25.76,Default,,0000,0000,0000,,How does this actually work?
Dialogue: 0,0:04:25.78,0:04:26.96,Default,,0000,0000,0000,,So what we did
Dialogue: 0,0:04:26.98,0:04:33.22,Default,,0000,0000,0000,,is we sent in an undercover investigator\Nto 13 Manhattan law firms.
Dialogue: 0,0:04:33.76,0:04:37.54,Default,,0000,0000,0000,,Our investigator posed\Nas an African minister
Dialogue: 0,0:04:37.56,0:04:41.69,Default,,0000,0000,0000,,who wanted to move suspect funds\Ninto the United States
Dialogue: 0,0:04:41.71,0:04:44.85,Default,,0000,0000,0000,,to buy a house, a yacht, a jet.
Dialogue: 0,0:04:45.29,0:04:50.35,Default,,0000,0000,0000,,Now, what was truly shocking\Nwas that all but one of those lawyers
Dialogue: 0,0:04:50.37,0:04:54.97,Default,,0000,0000,0000,,provided our investigator with suggestions
Dialogue: 0,0:04:54.99,0:04:56.95,Default,,0000,0000,0000,,on how to move those suspect funds.
Dialogue: 0,0:04:56.98,0:04:58.79,Default,,0000,0000,0000,,These were all preliminary meetings,
Dialogue: 0,0:04:58.81,0:05:01.09,Default,,0000,0000,0000,,and none of the lawyers\Ntook us on as a client
Dialogue: 0,0:05:01.11,0:05:03.40,Default,,0000,0000,0000,,and of course no money moved hands,
Dialogue: 0,0:05:03.42,0:05:06.88,Default,,0000,0000,0000,,but it really shows the problem\Nwith the system.
Dialogue: 0,0:05:06.90,0:05:08.82,Default,,0000,0000,0000,,It's also important
Dialogue: 0,0:05:08.85,0:05:12.21,Default,,0000,0000,0000,,to not just think about this\Nas individual cases.
Dialogue: 0,0:05:12.24,0:05:14.45,Default,,0000,0000,0000,,This is not just about\Nan individual lawyer
Dialogue: 0,0:05:14.48,0:05:18.33,Default,,0000,0000,0000,,who's spoken to our undercover\Ninvestigator and provided suggestions.
Dialogue: 0,0:05:18.35,0:05:21.21,Default,,0000,0000,0000,,It's not just about\Na particular senior politician
Dialogue: 0,0:05:21.23,0:05:22.86,Default,,0000,0000,0000,,who's been caught up in a scandal.
Dialogue: 0,0:05:22.88,0:05:25.94,Default,,0000,0000,0000,,This is about how a system works,
Dialogue: 0,0:05:25.96,0:05:31.91,Default,,0000,0000,0000,,that entrenches corruption,\Ntax evasion, poverty and instability.
Dialogue: 0,0:05:31.93,0:05:33.75,Default,,0000,0000,0000,,And in order to tackle this,
Dialogue: 0,0:05:33.77,0:05:35.44,Default,,0000,0000,0000,,we need to change the game.
Dialogue: 0,0:05:35.47,0:05:37.99,Default,,0000,0000,0000,,We need to change the rules of the game
Dialogue: 0,0:05:38.01,0:05:40.00,Default,,0000,0000,0000,,to make this sort of behavior harder.
Dialogue: 0,0:05:40.03,0:05:42.97,Default,,0000,0000,0000,,This may seem like doom and gloom,
Dialogue: 0,0:05:42.100,0:05:44.92,Default,,0000,0000,0000,,like there's nothing we can do about it,
Dialogue: 0,0:05:44.94,0:05:46.57,Default,,0000,0000,0000,,like nothing has ever changed,
Dialogue: 0,0:05:46.60,0:05:49.93,Default,,0000,0000,0000,,like there will always be rich\Nand powerful individuals.
Dialogue: 0,0:05:49.96,0:05:52.40,Default,,0000,0000,0000,,But as a natural optimist,
Dialogue: 0,0:05:52.43,0:05:55.90,Default,,0000,0000,0000,,I do see that we are starting\Nto get some change.
Dialogue: 0,0:05:55.93,0:05:57.80,Default,,0000,0000,0000,,Over the last couple of years,
Dialogue: 0,0:05:57.83,0:06:01.50,Default,,0000,0000,0000,,we've seen a real push towards\Ngreater transparency
Dialogue: 0,0:06:01.52,0:06:03.35,Default,,0000,0000,0000,,when it comes to company ownership.
Dialogue: 0,0:06:03.76,0:06:06.09,Default,,0000,0000,0000,,This issue was put on the political agenda
Dialogue: 0,0:06:06.12,0:06:08.61,Default,,0000,0000,0000,,by the UK Prime Minister David Cameron
Dialogue: 0,0:06:08.63,0:06:13.39,Default,,0000,0000,0000,,at a big G8 Summit that was held\Nin Northern Ireland in 2013.
Dialogue: 0,0:06:13.87,0:06:18.22,Default,,0000,0000,0000,,And since then, the European Union\Nis going to be creating
Dialogue: 0,0:06:18.25,0:06:20.40,Default,,0000,0000,0000,,central registers at a national level
Dialogue: 0,0:06:20.43,0:06:23.83,Default,,0000,0000,0000,,of who really owns and controls\Ncompanies across Europe.
Dialogue: 0,0:06:23.86,0:06:28.54,Default,,0000,0000,0000,,One of the things that is sad is that,\Nactually, the US is lagging behind.
Dialogue: 0,0:06:28.96,0:06:31.66,Default,,0000,0000,0000,,There's bipartisan legislation\Nthat had been introduced
Dialogue: 0,0:06:31.68,0:06:33.58,Default,,0000,0000,0000,,in the House and the Senate,
Dialogue: 0,0:06:33.61,0:06:36.77,Default,,0000,0000,0000,,but it isn't making as much progress\Nas we'd like to see.
Dialogue: 0,0:06:36.79,0:06:39.88,Default,,0000,0000,0000,,So we'd really want to see\Nthe Panama leaks,
Dialogue: 0,0:06:39.90,0:06:43.70,Default,,0000,0000,0000,,this huge peek into the offshore world,
Dialogue: 0,0:06:43.72,0:06:48.77,Default,,0000,0000,0000,,be used as a way of opening up\Nin the US and around the world.
Dialogue: 0,0:06:48.80,0:06:53.58,Default,,0000,0000,0000,,For us at Global Witness,\Nthis is a moment for change.
Dialogue: 0,0:06:53.95,0:06:57.70,Default,,0000,0000,0000,,We need ordinary people to get angry
Dialogue: 0,0:06:57.72,0:07:00.98,Default,,0000,0000,0000,,at the way in which people\Ncan hide their identity
Dialogue: 0,0:07:00.100,0:07:02.91,Default,,0000,0000,0000,,behind secret companies.
Dialogue: 0,0:07:02.94,0:07:06.52,Default,,0000,0000,0000,,We need business leaders\Nto stand up and say,
Dialogue: 0,0:07:06.55,0:07:09.83,Default,,0000,0000,0000,,"Secrecy like this is not\Ngood for business."
Dialogue: 0,0:07:09.86,0:07:14.24,Default,,0000,0000,0000,,We need political leaders\Nto recognize the problem,
Dialogue: 0,0:07:14.26,0:07:19.27,Default,,0000,0000,0000,,and to commit to changing the law\Nto open up this sort of secrecy.
Dialogue: 0,0:07:19.64,0:07:22.92,Default,,0000,0000,0000,,Together, we can end the secrecy
Dialogue: 0,0:07:22.94,0:07:25.100,Default,,0000,0000,0000,,that is currently allowing tax evasion,
Dialogue: 0,0:07:26.02,0:07:29.21,Default,,0000,0000,0000,,corruption, money laundering to flourish.