Chancellor tells MPs another 43 wealthy individuals are under review as a result of inquiries following Mossack Fonseca leak. Twenty-two people face civil and criminal investigations into suspected tax evasion following the disclosure of the Panama Papers, the chancellor has told MPs. Philip Hammond also said a further 43 wealthy individuals were under review while […]

New York’s top financial regulator slapped a “Panama Papers”-linked bank with a $180 million fine for anti-money laundering violations. Mega Bank, a $103 billion Taiwanese bank with one New York office, ignored the risks associated with transactions involving Panama, a high-risk area for money laundering, the state Department of Financial Services said in a statement […]

The law firm at the heart of the Panama Papers revelations has decided to close its offices in the British-dependent territories of Jersey, Isle of Man and Gibraltar. Mossack Fonseca “will be ceasing operations” in those territories, “but we will continue serving all of our clients”, it said. “This decision has been taken with great […]

JFSC  PRESS RELEASE, 10 MAY 2016 Since the initial publication of the Panama Papers, the Jersey Financial Services Commission (JFSC) has been closely monitoring developments and any relevant connections between Jersey financial services practitioners and the Panamanian firm Mossack Fonseca or any other subject material that has so far emerged into the public domain from […]

    On the 05 may 2016 12:10 the JFSC issued the following letter about Reviewing business relating to Mossack Fonseca – 18 May latest – this is where your record keeping and retrieval will be tested to the limit. Dear Sir or Madam   You will doubtless be aware of the recent, and expected […]

Banks and financial firms have been told to hand over any information about their dealings with the law firm at the centre of the Panama Papers to the UK’s Financial Conduct Authority by a week on Friday. The City regulator had written to major financial firms on Monday, as the details of the accounts handled […]

One of the founders of Panama law firm Mossack Fonseca has dismissed accusations of wrongdoing following the leak of millions of its documents as a media “witch hunt” aimed at undermining the legitimate industry of setting up offshore companies. Ramón Fonseca, said he believed the disclosure was the work of hackers, staunchly defended the legality […]

The Panama legal firm at the heart of a massive data leak kept clients who were subject to international sanctions, documents show. Mossack Fonseca worked with 33 individuals or companies who have been placed under sanctions by the US Treasury, including companies based in Iran, Zimbabwe and North Korea. One had links to North Korea’s […]