All Panama Papers articles

  • Blog post

    Criminal charges unsealed in Panama Papers leak

    2018-12-05T14:00:00Z

    U.S. prosecutors this week unsealed an indictment revealing criminal charges brought against four individuals for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities, the first charges brought in the United States connected to the Panama Papers leak.

  • Blog post

    Deutsche Bank offers more details on Panama Papers raid

    2018-12-03T12:30:00Z

    Deutsche Bank has provided more details on a two-day raid, in which German prosecutors searched several Deutsche Bank offices, in connection with the Panama Papers. The case also imparts some important compliance lessons.

  • Blog post

    Glencore receives subpoena from Department of Justice

    2018-07-03T14:15:00Z

    Switzerland-based Glencore Ltd, a subsidiary of Glencore plc, said Tuesday it received a subpoena on July 2 from the U.S. Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and U.S. money laundering statutes.

  • Blog post

    Mossack Fonseca closing its doors

    2018-03-19T11:30:00Z

    Mossack Fonseca, the offshore law firm at the center of the Panama Papers investigation, announced that it will be closing its doors by the end of the month.

  • Blog post

    Swiss regulator sanctions Gazprombank in wake of Panama Papers

    2018-02-02T13:45:00Z

    Following revelations from the Panama Papers, Swiss regulators identified serious shortcomings in anti-money laundering processes regarding private clients at Gazprombank Switzerland and, thus, has banned it from accepting new private clients until further notice.

  • Blog post

    Paradise Papers: The sequel to the Panama Papers

    2017-11-05T22:45:00Z

    Dubbed the Paradise Papers, more than 381 journalists in 67 countries embarked on an effort of massive proportions to parse through 13.4 million leaked documents—many that mention some of the world's largest companies—revealing that the shady world of shell companies, offshore tax shelters, and secret trusts is far more prevalent ...

  • Blog post

    Car bomb kills ‘Panama Papers’ journalist

    2017-10-17T10:30:00Z

    Daphne Caruana Galizia, a relentless advocate for exposing the truth about corruption on the island of Malta and who helped expose its ties to offshore tax havens linked to the Panama Papers, has been killed in a car bombing.

  • Blog post

    Shell companies in the U.S.—beginning of the end?

    2017-07-11T11:45:00Z

    The Man From FCPA explores the issues surrounding shell companies and, in particular, money laundering enforcement.

  • Article

    Are shell companies a compliance nightmare?

    2017-05-09T10:45:00Z

    Deeply suspicious oil, gas, and mining deals that involve complex use of shell companies raise concerns over the use of shell companies themselves. They might be legal, but are they good compliance practice?

  • Blog post

    Deloitte poll: Panama Papers will cause financial crime enforcement to spike

    2016-08-25T10:30:00Z

    As the Panama Papers saga continues to unfold, global enforcement of financial crimes are expected to spike over the next year, according to a recent poll conducted by Deloitte Advisory. Jaclyn Jaeger reports.

  • Blog post

    Mega Bank fined $180 million for AML violations

    2016-08-23T13:45:00Z

    The New York Department of Financial Services has ordered Mega International Commercial Bank of Taiwan to pay a $180 million penalty and install an independent monitor for violating New York’s anti-money laundering laws. Jaclyn Jaeger reports.

  • MossackFonseca_1
    Blog post

    Panama Papers: Mossack Fonseca linked to offshore deals in Africa

    2016-07-27T10:15:00Z

    A new round of investigations on the Panama Papers conducted by the International Consortium of Investigative Journalists (ICIJ) this week revealed that Panama-headquartered law firm Mossack Fonseca established offshore companies to own, hold, or do business with petroleum, natural gas, and mining operations in 44 of Africa’s 54 countries—many of ...

  • Blog post

    EU tackles tax abuse in the wake of Panama Papers

    2016-07-26T09:30:00Z

    The Panama Papers document leak shed much light on a deep and pervasive effort to evade taxes. Since then, the European Union has passed a number of new rules to improve tax transparency and close tax loopholes. According to CW’s Paul Hodgson, the EU is only just getting started.

  • Article

    Panama Papers still a ‘gift’ that keeps on giving for compliance officers

    2016-06-14T15:30:00Z

    What’s next for the infamous Panama Papers scandal? As governments around the world craft opportunity from crisis with various new rules and regulations, CCOs at financial institutions may find themselves at an inflection point. The challenge: how to leverage all that once-hidden data on shell companies? Joe Mont reports.

  • Blog post

    Of shell companies, law firms, and the FCPA

    2016-06-13T09:15:00Z

    An interesting development in the continued fallout from the Panama Papers may portend a new trend in Foreign Corrupt Practices Act enforcement. Tom Fox takes a look at NML Capital’s lawsuit against Mossack Fonseca for obstruction of justice.

  • Blog post

    The Panama Papers: of shell companies and tax evaders

    2016-06-06T12:00:00Z

    Long before the now infamous Panama Papers scandal made the headlines, Ryan Hubbs, a senior manager of fraud investigation and dispute services at EY, penned an article about shell companies that still resonates. Tom Fox discusses how this and other media can help companies avoid the same tragic fate.

  • Blog post

    Trace International launches first global beneficial ownership registry

    2016-05-26T13:15:00Z

    TRACE International, a non-profit business association that pools resources to provide members with anti-bribery compliance support, today launched TRACEpublic, the first global registry of beneficial ownership, developed in direct response to the risks inherent in secret company ownership, highlighted by the Panama Papers.

  • Blog post

    A step toward the light of transparency, but only a small step

    2016-05-09T20:15:00Z

    The U.S. government is now requiring banks to obtain the identifies of those they do business with—a rule, notes Tom Fox, that is long overdue. But criticism of the rule could point to a greater need for legislation to streamline the current system around the creation of corporations. Will Congress ...

  • Blog post

    New legal liabilities after Panama Papers?

    2016-05-09T20:15:00Z

    The Man From FCPA, Tom Fox, looks at the implications behind the United Kingdom’s new mandate that banks selling to offshore companies in “murky territories” will be held responsible if it facilitates tax evasion by wealthy individuals, and how that mandate relates to anti-corruption compliance.