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.… Continue Reading
Transparency International’s Max Heywood recently posted an article on TI’s website asking if the British Virgin Islands — from where I operate a cross-border fraud and asset recovery law firm — has “cleaned up” since the publication of the so-called .… 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
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.
The International Consortium of Investigative Journalists said Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the Caribbean. … Continue Reading
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.… Continue Reading
On Twitter Friday, Mossack Fonseca said:
Our offices in Jersey, Isle of Man and Gibraltar will be ceasing operations, but we will continue serving all of our clients.… Continue Reading
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.”… Continue Reading
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.… 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
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.… Continue Reading
Two related UK banks said in separate U.S. securities filings that the UK’s top financial regulator has asked for information about any relationship the banks had with the Panama law firm at the center of the Panama Papers leak or with any individuals named in media coverage about the story.… Continue Reading