The Panama Papers leak is being referred to as the biggest leak of financial data ever. Our Firm has started this NEWS PAGE to track the latest news related to the leak. |
April 8, 2016 - Why few Americans in Panama Papers? Lawyer doesn't want them
"There are a lot of Americans, but they are more like private citizens," said Marina Walker Guevara, deputy director of the International Consortium of Investigative Journalists which coordinated the investigation and release of the Panama Papers.
April 7, 2016 - British banks forced to disclose links to Panama Papers firm
The U.K. Financial Conduct Authority said Thursday it has asked 20 banks and other financial firms to disclose their dealings with Mossack Fonseca, after reports that some of them allegedly helped clients hide money from tax authorities.
April 7, 2016 - Pakistan Prime Minister Sharif Grapples With Fallout From ‘Panama Papers’
Mr. Sharif’s sons and daughter were named in the reports, based on documents that were leaked from the Panama-based law firm Mossack Fonseca & Co., which appeared on the website of the International Consortium of Investigative Journalists. The documents don’t allege any wrongdoing on the part of Mr. Sharif and his family. Having an offshore account or company isn’t illegal in Pakistan.
April 7, 2016 - Russia And China Claim Panama Papers Leak Is US Government Plot
Russia and China, with the aid of its state-controlled media outlets, reacted to the news by accusing the U.S. government of being behind the “information attack,” and some conspiracy theorists and skeptics believe that since no U.S. officials appear to be mentioned, that the leak could have come from a U.S. government agency like the CIA or IRS.
April 7, 2016 - Major banks set up thousands of offshore firms
The trio of British banking giant HSBC and Swiss institutions UBS and Credit Suisse set up more than 4,500 offshore companies through Panama-based law firm Mossack Fonseca, Le Monde newspaper reported Tuesday. HSBC created 2,300 offshore companies, Credit Suisse has 1,105 and UBS, has 1,100, while France''s Societe Generale has 979, according to the latest revelations from the vast leak of documents dubbed the Panama Papers.
April 7, 2016 - American executives' names surface in Panama Papers
The names of hundreds of Americans have surfaced in the Panama Papers, including a handful of U.S. businessmen accused or convicted by U.S. authorities for ties to financial crimes or Ponzi schemes.
April 7, 2016 - Panama Papers: What next for Asia?
Some of the biggest global offshore banking centres can be found in Asia - Singapore, Macao, Dubai and Hong Kong, for example, are amongst the top spots for the global super-rich looking to open an offshore account.
April 7, 2016 - This Bank Got Caught In The Middle Of Two Massive Corporate Scandals In One Week
In the last five days, the bank has been linked to two massive global corruption scandals: first, the Unaoil email leak, which exposed how middlemen paid officials to help huge corporations obtain contracts — and then, the leaked trove of documents known as the Panama Papers, which revealed in astonishing detail the offshore financial holdings of the world’s rich and powerful.
April 7, 2016 - Panama Papers: 4 reasons why Panama is used as a tax haven
While Panama is hardly the only country where people stash their money to avoid taxes, its reputation as a tax haven dates back more than a hundred years, according to a study published by the Norwegian Institute for Research in Economics and Business Administration.
April 7, 2016 - Panama Papers: Hiding Cash Has Become Crummy Business
The firm, Mossack Fonseca & Co., incorporated 13,287 offshore companies in 2005 but just 4,341 in 2015, a decline of two-thirds. In the past three years, according to the Panama Papers, clients of the firm have incorporated 16,323 companies but deactivated 28,777.
April 7, 2016 - Panama Papers: Government announces creation of 'panel of experts'
President Juan Carlos Varela said Panama would work with other countries over the revelations. "The Panamanian government, via our foreign ministry, will create an independent commission of domestic and international experts," he said in a televised address.
April 7, 2016 - Panama Papers: US readies rule on shell companies
The U.S. Treasury Department intends to soon issue a long-delayed rule forcing banks to seek the identities of people behind shell-company account holders, after the "Panama Papers" leak provoked a global uproar over the hiding of wealth via offshore banking devices.
April 7, 2016 - UPDATE 2-Swiss banks told to fight money laundering, Geneva opens Panama probe
"The risk posed by money laundering is on the increase in Switzerland and banks need to do more to combat it," FINMA Chief Executive Mark Branson told the watchdog's annual news conference in the capital Bern.
April 7, 2016 - ‘Panama Papers’ Raise Pressure on U.K. to Rein in Offshore Tax Havens
Leaks from a Panamanian law firm detailing offshore accounts of prominent people are shining a light on the constellation of offshore centers in the last remnants of the British Empire, from Gibraltar to the British Virgin Islands.
April 6, 2016 - Panama Papers: 10 things we've learned
The list of allegations continues to grow and the scale of the issues involved is also on the rise - from corrupt officials and regimes, to money laundering, to tax evasion and sanctions busting. So far we have read only a small percentage of the total number of documents. The accusations are likely to keep on coming and the pressure on governments to do something is bound to continue, if only to show that it is not just the little people who pay taxes.