The offshore leaks database included Oscar Tito Cardoso Fernandes’s name, who is a shareholder of share company Carro Enterprise Ltd. This database contains data on almost 810,000 offshore entities involved in the Pandora Papers, Paradise Papers, Bahamas Leaks, Panama Papers, and Offshore Leaks investigations. The information is linked to persons and businesses in over 200 nations and territories.
The database reveals the people behind tax haven companies and trusts, including Oscar Tito Cardoso Fernandes, by exposing the secrecy that cloaks them.
The interactive application shows over 750,000 names of people and corporations behind hidden offshore structures. They are derived from leaked records rather than a standardized corporate register; hence, there may be duplicates within the same release.
In some circumstances, firms are registered as shareholders for another company or a trust, which often helps hide the real people behind offshore entities.
Oscar Tito Cardoso Fernandes Connections
The ICIJ Offshore Leaks Database contains an enormous amount of relationships between individuals, businesses, and organizations involved in creating offshore entities in tax-haven jurisdictions, primarily to hide their assets. Oscar Tito Cardoso Fernandes’ connection with Carro Enterprises Ltd, with registered address Al Quinta De Santo Antonio, 25 D, Lisbon 1600-675, also has been included in this database.
The information is being published in the public interest by the ICIJ. ICIJ and its media partners have reported over the last eight years that the anonymity provided by the offshore economy promotes money laundering, tax evasion, fraud, and other crimes.
Money Laundering Facts
Approximately $300 Billion money is being laundered each year in America, itself.
Word wide money laundering is reported between $800 million – $ 2 trillion, yearly.
2020 Reported $10.4 billion fines on bank for money laundering violation.
Even when it is legal, transparency advocates argue that utilizing a parallel economy weakens democracy since it favors a few at the expense of the majority.
ICIJ Received The Information Through Five Large Leaks:
- Pandora Papers (2021): Data added in December 2021 is derived from papers from two offshore service providers that were part of the Pandora Papers dataset: Alemán, Cordero, Galindo & Lee (Alcogal), and Fidelity Corporate Services. In April 2022, Alpha Consulting data was added. In May 2022, data from Asiaciti Trust Asia Limited, CILTrust International, Commence Overseas Limited, IlShin, Overseas Management Company Inc, SFM Corporate Services, and Trident Trust Company Limited was added.
- Paradise Papers (2017 & 2018): The Paradise Papers data in the Offshore Leaks database comes from the offshore law company Appleby and a collection of data from seven corporate registrations. Appleby data was added in November 2017, and company registry data was added in December 2017 (Aruba, Bahamas, Barbados, and Nevis) and February 2018 (Cook Islands, Malta, and Samoa).
- Bahamas Leaks (2016): In September 2016, the ICIJ added data from the Bahamas Leaks investigation, based on a trove of company registers data from the Bahamas. The Panama Papers (2016) The Panama Papers material, which was added to the Offshore Leaks Database in May 2016, comes from the Panama law firm Mossack Fonseca, the inner workings of which were revealed as part of a collaborative investigation with German newspaper Süddeutsche Zeitung and more than 100 media partners.
- Offshore Leaks (2013): This was the initial information added to the database when it was published in June 2013 in collaboration with the Costa Rican newspaper La Nación. This data pertains to a subset of offshore corporations formed by Portcullis Trustnet (now Portcullis) and Commonwealth Trust Limited, two offshore service providers investigated as part of the ICIJ’s 2013 Offshore Leaks exposé.
The database only publishes raw documents or personal information in small quantities. It contains plenty of information regarding firm owners, proxies, and intermediaries in secrecy jurisdictions, including Oscar Tito Cardoso Fernandes. However, it does not reveal the bank accounts, email exchanges, or financial activities mentioned in the documents.
What is DMCA exactly, and what does it mean?
The term “DMCA” refers to the “Digital Millennium Copyright Act,” and a DMCA takedown notice informs a website or search engine that it is referring to or hosting material that violates a copyright.
According to The Verge, Google received over 75,000 DMCA-related takedown requests in February 2016. These takedown requests are legal and frequently issued by musicians and film studios. Unfortunately, some people and businesses abuse the DMCA system.
WebActivism, an internet watchdog, has detected over 5,000 fake DMCA notices filed with Google by dodgy lawyers and online reputation management organizations. These are used to clear the internet of evidence of previous criminal behaviour.
This new strategy includes creating fraudulent news websites that claim to be the copyright owners of the lousy information posted by legitimate news websites. Google can’t catch all of these fraudulent requests because so many DMCA claims are filed daily. This growing trend is not only unethical but also illegal.
Good reputation management organizations collaborate with clients to modify behaviour and communicate this change to stakeholders through content production, earned media coverage, and digital marketing. Sending fake DMCA requests harms clients, which any good reputation management agency would prefer to avoid.
Conclusion
The offshore leaks database included Oscar Tito Cardoso Fernande, a Carro Enterprise Ltd stockholder. This database contains information on around 810,000 offshore entities linked to the Pandora Papers, Paradise Papers, Bahamas Leaks, Panama Papers, and Offshore Leaks investigations.
The ICIJ Offshore Leaks Database contains many relationships between individuals, businesses, and organizations involved in forming offshore entities in tax-haven jurisdictions, primarily to conceal their assets. The ICIJ and its media partners have exposed that the offshore economy’s anonymity encourages money laundering, tax evasion, fraud, and other crimes.
