White House 'Looking at' Pandora Papers Leak, Biden Says

WASHINGTON (Sputnik) - US President Joe Biden said on Monday that the White House was studying the Pandora Papers leak released a day prior.

"We are looking at that right now," Biden told reporters at the White House, without elaborating further.

The US was singled out as the world's leading tax haven in the Pandora Papers, with some American states, such as South Dakota and Nevada, having become perfect places to hide billions of dollars in wealth linked to people previously accused of financial crimes.

US President Joe Biden's economic agenda is based on boosting transparency, tax enforcement and regulation, including plans to go after global tax havens.

The Pandora Papers, compiled by the International Consortium of Investigative Journalists and released by several publications, sheds a light on an alleged network of offshore banking among the world's elite. Over 35 incumbent and former global leaders, and more than 330 officials worldwide, were cited in the papers as being involved in tax haven practices to hide vast wealth and property. The investigation was based on over 11.9 million leaked financial documents.

The ICIJ has described the newly-published exposé of illicit financial activities as the most expansive yet, noting that the investigation involved more than 600 journalists from 117 countries as well as over 11.9 million leaked files "covering every corner of the globe".