All Panama Papers articles

  • Lawsuit

    Focus on professional enablers puts lawyers in spotlight


    While the extent of lawyers’ and law firms’ involvement in money laundering remains difficult to quantify, their potential role as professional enablers has become increasingly salient.

  • woods

    Progress on beneficial ownership key to AML fight


    With the British Virgin Islands vowing its commitment to a beneficial ownership public register, financial crime expert Martin Woods turns his attention toward how the U.K. and U.S. are progressing in the space.

  • Oil

    Swiss AG latest investigating Glencore for corruption


    Glencore is under criminal investigation by the Office of the Attorney General of Switzerland over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.

  • Panama Papers

    Accountant pleads guilty in DOJ Panama Papers probe


    A U.S-based accountant who was charged alongside three others for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities has pleaded guilty.

  • Timeline

    Compliance 2020: A timeline


    Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.

  • Blog

    Criminal charges unsealed in Panama Papers leak


    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

    Deutsche Bank offers more details on Panama Papers raid


    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

    Glencore receives subpoena from Department of Justice


    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

    Mossack Fonseca closing its doors


    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

    Swiss regulator sanctions Gazprombank in wake of Panama Papers


    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

    Paradise Papers: The sequel to the Panama Papers


    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

    Car bomb kills ‘Panama Papers’ journalist


    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

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


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

  • Article

    Are shell companies a compliance nightmare?


    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

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


    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

    Mega Bank fined $180 million for AML violations


    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

    Panama Papers: Mossack Fonseca linked to offshore deals in Africa


    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

    EU tackles tax abuse in the wake of Panama Papers


    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


    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

    Of shell companies, law firms, and the FCPA


    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.