Panama Tax Haven Revelations Show How Neediest Nations Are Harmed

The Panama Papers — documents leaked from a Panamanian law firm — reveal a shady side to the global financial system, in which the world’s elite routinely hide money to remain anonymous or to avoid paying taxes. While some argue there’s nothing illegal about the practice, others say the lack of transparency and controls in many tax haven countries comes with a heavy price tag, especially in countries where development money is needed most. VOA's Mil Arcega reports.