Leaks of offshore corporate records have gained enormous popularity and continue to grow in scope and scale. The Pandora Papers, Paradise Papers, Bahamas Leaks, and Panama Papers have triggered investigations into kleptocrats, oligarchs, and public officials who failed to disclose their assets.… Continue Reading
Posts Tagged: International Consortium of Investigative Journalists
I have had several dealings with the Panama Papers law firm, Mossack Fonseca, over the years, while trying to identify its clients who had wronged my own.
Despite acquiring the appropriate court disclosure order forcing Mossack Fonseca to reveal the identity of a client patron (accused of some form of wrongdoing by my clients), the firm was difficult to deal with: the level of cooperation appeared to randomly fluctuate between non-existent and half-baked.… Continue Reading
Switzerland’s top financial regulator sanctioned the local unit of Russia’s Gazprombank after an anti-money laundering investigation triggered by the Panama Papers.
The Swiss Financial Market Supervisory Authority or FINMA said Thursday that Gazprombank (Switzerland) Ltd.… Continue Reading
I have decided to don my tin hat and stick my head above the parapets again. Why? Because for once common sense has prevailed and the anti-1% brigade have lost their argument for an open Public Register of Ultimate Beneficial Owners (UBOs) in the British Virgin Islands (BVI) and her sister islands in the Caribbean.… Continue Reading
The massive leak of 13.4 million files, dubbed the “Paradise Papers,” highlights loopholes that exist in the global financial system. The documents also show how easy it is for tax evaders, money launderers, and senior public officials to utilize anonymous companies to hide their identities, their potential conflicts of interest, and their business deals.… Continue Reading
Investigative journalists undertake complex and often dangerous work to hold organizations and individuals accountable for bribery. These journalists deserve to be encouraged and recognized for their work.
In 2015, TRACE launched its Prize for Investigative Reporting to recognize reporters in this field, and to support a free press more broadly.… Continue Reading
This month is the one year anniversary of the Panama Papers, a leak of 11 million documents from the Mossack Fonseca law firm that showed how easy it is for corrupt public officials, money launderers, drug traffickers and other criminals to hide behind anonymous companies and access the global financial system.… Continue Reading
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.
Professor Mark Pieth, chair of the Basel (Switzerland) Institute on Governance, told the BBC he resigned from the Panama Papers commission after the government said it would pre-approve all findings.… Continue Reading
Prime Minister David Cameron hosted an international anti-corruption summit in London Thursday and used the event to announce steps to end the secret ownership of property in the UK by foreigners.… Continue Reading
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.… Continue Reading