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Paradise Papers & Bahamas Leaks & Panama Papers - Latest News

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 5, 2016 - German banks enmeshed in Panama Papers leak
The two German financial institutions specifically mentioned in media reports as having helped high-ranking politicians, celebrities and sports stars hide their money abroad were Deutsche Bank, Germany's largest lender, and the Hamburg-based Berenberg bank.

April 5, 2016 - Why few Americans turned up in the 'Panama Papers'
Tax experts generally identify three categories of people who seek global tax havens: criminals; “politically exposed persons,” or PEPs, who enrich themselves while holding office and need to hide the money; and regular rich folk who want to conceal assets from family members, ex-spouses and the like. Many of the characters who turned up in the Panama Papers appear to be PEPs who are more interested in keeping cash from public view than minimizing the tax bills on legitimate income.

April 5, 2016 - DOJ launches Panama Papers probe amid pressure on global tax authorities
A U.S. Department of Justice (DOJ) spokesman told Reuters that it would determine whether there was evidence of unscrupulous activities at the offshore companies set up by Panamanian law firm Mossack Fonseca, echoing similar statements from authorities in France, Germany, Australia, New Zealand, Sweden, Brazil and the Netherlands.

April 5, 2016 -- Biggest Banks Are Top Users of Offshore Services
According to the International Consortium of Investigative Journalists, HSBC Holdings PLC, UBS Group AG and Credit Suisse AG were some of the heaviest users of company-incorporation services provided by Mossack Fonseca, the Panamanian firm whose massive trove of internal documents the investigative-reporting group says it has seen.

April 5, 2016 - Panama Papers: Credit Suisse, HSBC dismiss offshore companies, tax avoidance allegations
Credit Suisse and HSBC, two of the world's largest wealth managers, dismissed on Tuesday suggestions they were actively using offshore structures to help clients cheat on their taxes.

April 5, 2016 - HSBC and Coutts reportedly set up more than 2,000 offshore companies
Mossack Fonseca, the law firm at the centre of the Panama Papers leak, was allegedly asked by HSBC Private Bank and Coutts to create more than 2,000 offshore companies for their clients

April 5, 2016 - 800 Australians investigated after offshore accounts leak
More than 800 wealthy Australians are under investigation by the Australian Taxation Office for possible tax evasion linked to their alleged dealings with a Panamanian law firm, the tax agency said on Monday.

April 5, 2016 - The five most important charts from the Panama Papers leaks
Panama Papers: 10 most popular tax havens

April 5, 2016 - Here Are Five U.S.-Blacklisted Companies Revealed in the Panama Papers
Investigators accuse them of being involved in everything from nukes to oil

April 4, 2016 - ‘Panama Papers’ Chilling Effect On Miami’s Housing Market
Federal authorities are already scrutinizing large cash deals in South Florida to find out where the funds come from. The concern is some of the money may be illicit.

April 4, 2016 - Panama Papers: Secret offshores trace back to Brickell condo featured on ‘Miami Vice’
The propensity to look the other way has helped turn South Florida into a hub of the world’s shadow economy. A cottage industry of lawyers and accountants based in Miami helps clients form offshore companies that can mask their activities.

April 4, 2016 - Massive leak reveals money rings of global leaders
The documents, combed through in the past year by dozens of journalists worldwide, show links to 72 current or former heads of state, including dictators accused of looting their own countries.

April 4, 2016 - Panama Papers vs NSA: How big is the latest leak?
That compares to about 1.7 million documents taken by Snowden, the former National Security Agency contractor who leaked details of the organization's surveillance efforts. The NSA release amounted to just 15% the number of documents involved in the Panama Papers investigation.

April 4, 2016 - PANAMA PAPERS: WHO WAS BEHIND THE INVESTIGATION INTO ELITE'S TAX HAVENS?
With the Panama Papers exposé perhaps we can now say the fortress walls of offshore secrecy are finally cracking. Such havens allow corruption and tax avoidance to take place on a massive international scale by some of the richest and most powerful people on Earth. Meanwhile, the poor get poorer.

April 4, 2016 - 'Panama Papers': Who will get hit hardest?
Western financial institutions may have the most to lose. UBS and Credit Suisse agreed in recent years to pay large sums to settle accusations of helping rich clients evade U.S. taxes.

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