It comes as no surprise that the authorities appear to have caught up with Mossack Fonseca’s founders, Jürgen Mossack and Ramon Fonseca, in Panama City and the firm’s offices raided.
Entries in Panama (52)
As a Canadian practicing law and operating out of the British Virgin Islands (BVI), any mention of Mossack Fonseca and Canada in the same breath is guaranteed to capture my attention.
The two principal partners of the law firm at the center of the Panama Papers scandal were arrested for their alleged connection to Brazil's Car Wash investigation, according to reports.
Two international experts appointed by the Panama government to investigate the use of anonymous offshore companies to evade taxes and hide assets quit Friday because of government interference.
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem.
Historians may look back on 2016 as the year when the global anti-corruption movement took political center stage. Every day, we taste corruption’s bitter fruit in the form of instability, violence and a corrosion of trust that spans from government to sport.
At the annual general meeting of HSBC Holdings plc in London, Group Chairman Douglas Flint said the world is moving toward "greater transparency and fuller disclosure, which we welcome."
It’s a scenario that FCPA practitioners see all too regularly. A due diligence report regarding an intermediary reveals that it’s organized not in its home jurisdiction, but in Cyprus. Or Guernsey. Or Panama.
In the wake of the Panama Papers revelations, the U.S. has (belatedly) announced that it will . The rules, which include requiring financial institutions to find out and keep records on the real owners behind the companies that use their services, aim to help U.S. law enforcement pierce the layers of anonymous shell companies that people can use to disguise their financial dealings around the world.
The last five years have seen a dramatic shift in the transparency environment, in a trend that began with Wikileaks launching the Arab Spring, and which is now reaching fruition in the vast data leaks from Luxembourg, Unaoil and Panama. Companies can no longer reliably distribute information as they choose, or maintain control over its interpretation.