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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 6, 2016 - Press Briefing by Press Secretary Josh Earnest
Obviously there are a lot of materials that have been released and that will continue to be reviewed by the general public and certainly by many of your news organizations. As the President noted, it does sort of highlight some issues that the President has been focused on for quite a long time. And I did actually want to add to one aspect of his answer about this.

April 6, 2016 - US, Like Panama, Is 'Playground for the World's Dirty Money'
Panama and the U.S. have at least one thing in common: Neither has agreed to new international standards to make it harder for tax evaders and money launderers to hide their money.

April 6, 2016 - A behind-the-curtain look at offshore accounts
While it has gotten tougher for Americans to hide their money abroad -- and some Swiss banks won't do business with Americans because of the regulations -- not every country has agreed to the standards.

April 6, 2016 - Panama Papers: Leak firm Mossack Fonseca says it is 'victim of hack'
A partner at Mossack Fonseca, the Panamanian law firm at the centre of a huge leak of confidential financial data, says it was the victim of a hack.

April 6, 2016 - Two banks dismiss Panama claims
Credit Suisse and HSBC, two of the world’s largest wealth managers, have dismissed suggestions they are actively using offshore structures to help clients cheat on their taxes.

April 6, 2016 - The Panama Papers’ Sprawling Web of Corruption
With more than 14,000 clients around the world and more than 214,000 offshore entities involved, Mossack Fonseca, the Panama-based law firm whose internal documents were exposed, piously insists it violated no laws or ethics.

April 5, 2016 - Beijing is censoring searches about the Panama Papers
China's online censors are restricting many search results and discussions on social media involving the terms "Panama Papers" and "Panama." They're also censoring use of the names of relatives of current and former Chinese leaders -- including President Xi Jinping -- that are mentioned in the reports.

April 5, 2016 - U.S., Britain are eager for names
“It is clear to us that a number of journalists who are part of it have hardly majored in journalism. There are many former representatives of the (U.S.) State Department and the CIA, along with other intelligence agencies,” Peskov said, according to RT News.

April 5, 2016 - Data trove offers glimpse of how the rich hide their money
The ICIJ said the documents involve 214,488 companies and 14,153 clients of Mossack Fonseca. The nonprofit group said it would release the full list of companies and people linked to them next month.

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

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