Wednesday, 18 May 2016

THE PANAMA PAPERS

ICIJ Offshore Leak Database

This ICIJ database contains information on almost 320,000 offshore entities that are part of the Panama Papers and the Offshore Leaks investigations.


The data covers nearly 40 years up to the end of 2015 and links to people and companies in more than 200 countries and territories.

Browse by country: Singapore


read more

Crime & the Panama Papers

But the top news item goes to a statement issued jointly by the Ministry of Finance and Monetary Authority of Singapore, who said they are investigating the latest leak in the Panama Papers, which includes thousands of offshore accounts linked to Singapore.

So far, 5,869 offshore entities, 6,116 officers, 1,315 intermediaries, and 5,728 addresses have been shown up in the Singapore file – though, many familiar-sounding names appear to not be what they seem, reported TODAY.

The Law Society, for instance, was one of the organisations identified but it replied yesterday that its name was misused. Another company, the Temasek Wellness Investments, is not linked to Temasek Holdings, said the state-owned investment firm. DBS and OCBC have also been implicated and the banks responded yesterday saying they are in compliance with law and do not support “concealment techniques”.


read more

Mossack Fonseca has office in Singapore


Mossack Fonseca, the Panamanian law firm at the centre of the document leak, has an office in Singapore. It shares office space in the Jit Poh Building at 19 Keppel Road with TPS Corporate Services, a firm that helps clients set up and manage companies in different jusrisdictions, both onshore and offshore.

The chairman of Mossack Fonseca's Singapore office is Mr Peter Tay, who is also the founder and executive chairman of TPS Corporate Services. Mr Tay's online profile also indicates that he has been representing Mossack Fonseca in Singapore, Malaysia and Indonesia since the 1990s.

He did not respond to a Straits Times request for an interview by press time.


read more

Panama Papers: Singapore authorities doing the 'necessary checks'


Government agencies here are reviewing information being reported in connection with the leaked tax documents from a law firm in Panama, the Ministry of Finance (MOF) and the Monetary Authority of Singapore (MAS) said on Tuesday night (April 5).

They are also doing the "necessary checks" in connection with the "so-called Panama Papers", said spokespersons from MOF and MAS in a email reply to The Straits Times. "If there is evidence of wrong-doing by any individual or entity in Singapore, we will not hesitate to take firm action." Authorities across the world, including France, Australia, New Zealand, Austria, Sweden and the Netherlands, have started investigations into the massive leaks of more than 11.5 million documents.

Some other countries including the United States, have said they were looking into the matter.

read more

Panama Papers' fresh leak reveals Singapore names

The Panama Papers continued to spill fresh secrets yesterday, as the data of some 200,000 offshore entities set up by wealthy individuals around the world went public.

The International Consortium of Investigative Journalists (ICIJ) launched the fresh leak onto its searchable online database at 2am Singapore time yesterday.

The data comes from nearly 4 decades of digital archives of Mossack Fonseca, a Panamanian law firm that specialises in creating and running offshore entities. The firm has said its archives had been hacked.

related:
Panama Papers database on shell companies goes online
ICIJ releases database revealing thousands of secret offshore companies


read more

Panama P
apers leak shows S’pore link to 5,869 offshore entities


A database of more than 200,000 secret offshore companies, trusts and foundations set up in 21 tax havens, dubbed the “Panama Papers”, was released for public access on Tues (May 10) by the International Consortium of Investigative Journalism (ICIJ), with the Singapore file showing 5,869 offshore entities, 6,116 officers, 1,315 intermediaries and 5,728 addresses.


There were many familiar-sounding organisations among those found in the ICIJ database but several — including the Law Society of Singapore, Temasek Wellness Investments and Vertex Holdings — turned out to be unrelated to their namesakes.

A Law Society spokesperson told TODAY that it is investigating the misuse of its name. “The Law Society of Singapore does not have any overseas accounts, nor has it incorporated any overseas entities. The Law Society’s name has obviously been misused (and it) will be conducting an inquiry into that,” the spokesperson said.

read more

Panama Papers: Regulators studying Singapore-linked data


The building where Mossack Fonseca law firm offices are in Panama City. FOTO: AFP

Regulators here said yesterday that they are looking into the latest leaks to come out of the Panama Papers, and will take action if any Singaporean named in the cache is found guilty of wrongdoing.

The joint statement from the Ministry of Finance (MOF) and Monetary Authority of Singapore (MAS) came after the International Consortium of Investigative Journalists (ICIJ) unveiled data on some 200,000 offshore entities set up by wealthy individuals around the world.

The ICIJ put up the data onto a searchable online database early yesterday morning. The data, which comes from nearly 40 years of archives of Mossack Fonseca, a Panamanian law firm that specialises in creating and running offshore entities, includes records on thousands of Singapore-linked entities.

related: PANAMA PAPERS

read more


Panama Papers: Singapore reviewing information, doing ‘necessary checks’

Authorities here are reviewing the information being reported in connection with the Panama Papers leak and are doing the “necessary checks”, the Ministry of Finance (MOF) and Monetary Authority of Singapore (MAS) said on Wed (Apr 6).

 
The leaked papers comprise 11.5 million documents from law firm Mossack Fonseca, which specialises in creating offshore shell companies in the tax haven of Panama. The documents exposed how some of the world's most powerful people have secreted their money offshore
 
Singapore takes a serious view on tax evasion and will not tolerate its business and financial centre being used to facilitate tax related crimes,” MOF and MAS said in a statement.

related:
'Panama Papers' revelations trigger global probes
Iceland premier resigns as Panama Papers scandal widens
Credit Suisse, HSBC dismiss 'Panama Papers' tax avoidance allegations
Mossack Fonseca to start legal action over 'Panama Papers' leak
Panama raids property of Mossack Fonseca law firm: official


read more

Panama Papers' Singapore links



Singapore regulators say they are looking into the latest leaks to come out of the Panama Papers, and will take action if any Singaporeans named in the cache are found guilty of wrongdoing.


The joint statement yesterday from the Finance Ministry and Monetary Authority of Singapore came after the International Consortium of Investigative Journalists (ICIJ) unveiled data on some 200,000 offshore entities set up by wealthy individuals around the world.

The Singapore-linked names in the Panama Papers include entities linked to the local banks as well as corporate chiefs.

read more

Companies shift billions in Singapore

It has been revealed Australian companies funnelled almost $110 billion in and out of low-tax Singapore in one year as tax authorities globally ramp up focus on the world’s richest.

As the Australian Taxation Office confirmed it was looking at the financial affairs of 800 Australians, data shows Singapore is by far more important for local firms than major trading partners such as the US and Japan. It comes as the leak of more than 11 million documents from the Panama legal firm Mossack Fonseca has shown how some of the world’s most powerful people hide money to avoid tax.

Tax-office data also shows how keen Australian firms have become to move money through Singapore, where the corporate tax rate can be as low as 2 per cent. In 2013-14, Australian firms declared revenues in Singapore through “international related-party dealings” of $51.2 billion, a 13 per cent rise on the year before.


read more

The Panama Papers leak explained so that even a 5-year-old can understand


The Panama Papers leak has exploded over the internet with the news hitting Reddit, also known as the
front page of the Internet, in record time.

A host of documents from Panama-based law firm Mossack Fonseca, spanning almost 40 years was uncovered through a joint effort by more than 100 media groups. The entire database can be found here.

Edward Snowden, the man responsible for a pretty big info leak of his own, called it the biggest leak in the history of data journalism.
But, what is it exactly?


read more

GIC ADDRESS LISTED IN PANAMA PAPER LEAKS

According to the International Consortium of Investigative Journalism (ICIJ), the GIC address was listed in the massive data leak of the Panama Papers.

read more

CPF Holdings Co Group and Temasek Wellness Investments among new Panama Papers leak


The International Consortium of Investigative Journalism (ICIJ) has put up data on their website which show, in great detail, names and addresses along with the identities of their holding companies and also specifies the date of incorporation of the firm in some cases.

While stating that the ICIJ was releasing these additional details on names and addresses in “public interest”, it added that the latest action was also an effort to “find out who’s behind almost 320,000 offshore companies and trusts from the Panama Papers and the offshore leaks investigations.”

Among the 5869 Singapore entities named are CPF Holdings Company Group Limited and Temasek Wellness Investments Ltd; as well as several banks including HSBC Private Bank (Suisse) SA (Singapore) and The Standard Chartered Private Bank.


related:
GIC’s address found in new Panama Papers leak
Panama Papers leak exposes a Kwa Chong Seng
Mystery about who is Kwa Chong Seng of Panama Papers gets deeper

read more

Singapore Authorities Investigating Possible Tax Evasion Following Panama Papers Leak


The Ministry of Finance and Monetary Authority of Singapore have declared that “necessary checks” are being done as it investigates possible tax-related crimes.

The financial authorities are reviewing information that’s been reported in the leaked Panama Papers, which exposed how some of the world’s most powerful people have secreted their money offshore. The MOF and MAS said in a statement:

“Singapore takes a serious view on tax evasion and will not tolerate its business and financial centre being used to facilitate tax related crimes… If there is evidence of wrongdoing by any individual or entity in Singapore, we will not hesitate to take firm action.”
The leaked documents have revealed that Australian companies funnelled almost S$112 billion in and out of low-tax Singapore in one year, and the Australian Taxation Office is now investigating the money matters of some 800 Australians. GIC, DBS and OCBC Among Entities Implicated in Panama Papers Scandal.

read more

Panama Papers throw up confusing Singapore names


THE dreaded exposure of the Panama Papers has turned up some household names in Singapore including the three local banks but there is also a fair bit of confusion as some names have been misused.

On Monday, the International Consortium of Investigative Journalists (ICIJ) published online detailed data from the Panama Papers trove on more than 200,000 secret offshore companies.

It is easy to search the database, and find out who's behind almost 320,000 offshore companies and trusts from the Panama Papers and the Offshore Leaks investigations, said the ICIJ.

related:
Panama Papers' fresh leak reveals Singapore names
Panama Papers database on shell companies goes online

read more


GIC claims its address is found in Panama Papers because of a previous investment it had made
GIC Private Limited (formerly known as Government of Singapore Investment Corporation) is a sovereign wealth fund established in 1981 by the Government of Singapore, and is fully owned by the Republic’s Government.

GIC pointed out on 12 May that it is not named in the Panama Papers and that its address can be found in ICIJ’s database because of a previous investment it had made. The records containing its name come from records released in an older data leak, GIC said.

A GIC spokesman clarified: “We invested in and were one of the shareholders of Hon Chuan (China) Holdings Co Ltd, a Cayman subsidiary of Taiwan Hon Chuan Enterprises Co Ltd, whose business is manufacturing plastic packaging materials. Taiwan Hon Chuan Enterprises Co Ltd is a listed company on the Taiwan Stock Exchange. We have fully divested our stake as of Aug 8, 2007.”

related: Panama Papers leak exposes IE Singapore Chairman

read more


THE PANAMA PAPERS: 7 things to know

On Sunday, the International Consortium of Investigative Journalists published a massive leak of documents, dubbed the Panama Papers. CNNoney has you covered with what you need to know about the story and responses to it.

What are the Panama Papers? - ICIJ and an international coalition of media outlets investigated the trove of papers, which allegedly reveal a clandestine network involving associates of Russian President Vladimir Putin, and business ties between a member of FIFA's ethics committee and men whom the United States has indicted for corruption.

Why are they called the Panama Papers? - The more-than 11 million documents, which date back four decades, are allegedly connected to Panama law firm Mossack Fonseca. ICIJ reports that the firm helped establish secret shell companies and offshore accounts for global power players. ICIJ reports that a 2015 audit found that Mossack Fonseca knew the identities of the real owners of just 204 of 14,086 companies it had incorporated in Seychelles, an Indian Ocean archipelago often described as a tax haven. And as Gerard Ryle, the director of ICIJ, told CNN's Christiane Amanpour: "These documents, if nothing else, raise an awful lot of questions."

related:
Panama Papers: Rich and powerful respond to claims they hid billions offshore
Iceland names new PM amid Panama Papers fallout

read more

Panama Papers Q&A: What is the scandal about?

A huge leak of documents has lifted the lid on how the rich and powerful use tax havens to hide their wealth. The files were leaked from one of the world's most secretive companies, a Panamanian law firm called Mossack Fonseca.

What are the Panama Papers? The files show how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax. In one case, the company offered an American millionaire fake ownership records to hide money from the authorities. This is in direct breach of international regulations designed to stop money laundering and tax evasion.

It is the biggest leak in history, dwarfing the data released by the Wikileaks organisation in 2010. For context, if the amount of data released by Wikileaks was equivalent to the population of San Francisco, the amount of data released in the Panama Papers is the equivalent to that of India.

related:
Huge leak reveals elite's tax havens
Panama leaks spur global investigations
How assets are hidden and taxes dodged

Panama tax leak reaction

read more

Guide to the Panama Papers

What happens Monday? The International Consortium of Investigative Journalists (ICIJ) will release to the public a searchable database of documents that reveals the details of more than 200,000 offshore entities and the people in more than 200 countries and territories connected to those accounts.

What are the Panama Papers? The largest leak – the unauthorized disclosure of confidential information – ever, exposing data about secret offshore companies. The Panama Papers, as they have been called, are 11.5 million documents belonging to Panamanian law firm Mossack Fonseca. The nearly 40 years' worth of documents show how the firm helped some wealthy people set up offshore firms, often used to hide assets and avoid taxes and sanctions.

Named in the documents: Owners of offshore companies include 140 politicians, including 12 current and former political leaders; billionaires; sports stars; drug smugglers; mafia members; also at least 33 people and companies blacklisted by the U.S. government because of evidence of their involvement in wrongdoing, such as doing business with Mexican drug lords or with rogue nations such as North Korea and Iran.

related:                                
read more

Mossack Fonseca: The law firm at the heart of the Panama Papers scandal

Reports published Sunday, based on leaked documents from the firm, allege it helped world leaders, officials and celebrities hide billions of dollars. Mossack Fonseca denies any wrongdoing.

So who is Mossack Fonseca, and why Panama? Mossack Fonseca was created 30 years ago through a merger between two Panamanian law firms, one headed by Ramon Fonseca, the other by German immigrant Jurgen Mossack.

The firm specializes in helping clients incorporate firms in offshore jurisdictions.

related: The murky world of offshore tax havens

read more

Australian PM Turnbull named in Panama Papers, denies wrongdoing

SYDNEY Australian Prime Minister Malcolm Turnbull on Thursday denied any wrongdoing after being been named in the Panama Papers as a former director of a British Virgin Islands company set up to exploit a Siberian gold prospect.

read more

Perspective: Panama Papers and ‘responsible’ journalism

Soon after the Panama Papers went live - making headlines and leading news bulletins around the world - Gerard Ryle, the director of the Washington DC-based International Consortium of Investigative Journalists, planted a flag in our understanding of journalism in an era of informational insecurity.

"We're not WikiLeaks. We're trying to show that journalism can be done responsibly."
That Ryle should wield such a hefty word as "responsibly" evokes a tired, media-hyped caricature of creepy Julian Assange and his amoral pirate band. Shame on us if our collective memory has been more swayed by scriptwriters and trial-by-media than a frank assessment of the stand that WikiLeaks has taken for an information commons.

The story that paints Assange as an "irresponsible" actor began in 2010 when he approached the United States Department of Defense to invite help in redacting information from the "Afghan War Diaries" that may have put innocent people in danger.

read more

Panama Papers database dump reveals 200,000 secret offshore account details

The "Panama Papers" database went live on Monday - the largest ever release of secret offshore companies and the people behind them. The data, collated by the  International Consortium of Investigative Journalists (ICIJ), comes from the Panamanian law firm Mossack Fonseca and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States.

The names of thousands of offshore companies were published on Monday night as the Panama Papers were released in full. It represented a massive trove of data on the finances of the rich and powerful, Nick Allen in Washington said.

The International Consortium of Investigative Journalists (ICIJ) made information fully available on 200,000  companies, trusts and foundations set up in 21 jurisdictions. Data was obtained from Panamanian legal firm Mossack Foneca, which said it was hacked.
The release allowed members of the public to search networks of offshore companies including Mossack Fonseca's internal records of the true owners.

read more

Panama Papers leak: How you can finally read the documents from the tax dodging scandal
Prime Minister David Cameron is among those private individuals who have profited from offshore tax companies identified in the Panama Papers Toby Melville - WPA Pool /Getty Images

Documents showing how thousands of individuals and companies are linked to the Panama Papers tax dodging scandal are about to be published online, meaning members of the public will be able to search through the data.

The database is being published at 7pm BST by the International Consortium of Investigative Journalists (ICIJ).

Here's how to search the highlights of the 11.5 million files in the leak to see which politicians, businesspeople and corporations have links to offshore tax havens. With nearly a quarter of a million offshore entities to sift through, there's still plenty of headline-grabbing stories in there waiting to be found.

read more

Panama Papers Source Breaks Silence And Offers To Aid Authorities For Immunity

Sueddeutsche Zeitung said on Friday that the source of millions of documents leaked to the German newspaper from Panamanian law firm Mossack Fonseca had sent them a manifesto, saying his motivation was the “scale of injustices” the papers revealed.

The source had never before publicly stated why he leaked the documents, now known as the Panama Papers, said Sueddeutsche Zeitung, one of Germany’s most reputable newspapers.

In an 1,800 word manifesto published on the SZ website on Friday, the source, calling himself “John Doe”, praised others who have leaked secret and sensitive documents, such as Edward Snowden, who revealed details of the U.S. government’s mass surveillance program.

related: "Panama Papers"

read more

Reddit’s firing up a thread on the Panama Papers leak

An earlier version of this story linked to an earlier expose’ conducted by the International Consortium of Investigative Journalists on offshore companies. The post has been edited.

The good folks at Reddit are already getting their Redditors fired up about the massive document dump we reported earlier this evening.

Meanwhile the hits just keep on coming from news outlets around the world. Fusion has a rundown of the political players involved and a long-form piece on the law firm involved; as it goes down the rabbit-hole chasing one of the companies that the firm set up.

read more

About the Panama Papers
The Secrets Of Dirty Money

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell companies enable their owners to cover up their business dealings, no matter how shady.

In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.

The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes.

read more

ELI5: The Panama Papers

In business, you can avoid taxes by investing in something. If a company makes one million dollars, but spends 500,000 on investing in new technology for their product or something like that, they're only taxed from the remaining 500,000 because that's all of their "profit." (I'm not a businessman so I'm not sure on the complete legality of all the kinds of spending but I think this is a basic summary). This is all normal and fine; all companies require investing in order to grow their company.

So a company in Panama basically made a business in creating fake businesses. Companies could "invest" million of dollars and then it wouldn't be taxed, because according to legal documents it isn't profit, it's an "investment," which is untaxable, and then they would get their money back from the fake business. So imagine if that $500,000 of investments from my above example was fake, and after awhile 90% of the money was given back to the business (I'm assuming the Panamian company took a cut of the money as payment). 2.6 TB of data in total, over 11 million documents and over 200,000 fake companies. According to the website that published the news of the leak, they were contacted by an anonymous source with encrypted files with the data sometime in 2015. Here's am exerpt from the article:
Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.
Apparently there's several trillion dollars of money that should've been taxed and wasnt. Not sure if that means trillions that should've been taxed off of, or trillions of dollars of straight tax money, but either way it's a LOT.

read more

Corporate media gatekeepers protect western 1% from Panama Leak

Whoever leaked the Mossack Fonseca papers appears motivated by a genuine desire to expose the system that enables the ultra wealthy to hide their massive stashes, often corruptly obtained and all involved in tax avoidance. These Panamanian lawyers hide the wealth of a significant proportion of the 1%, and the massive leak of their documents ought to be a wonderful thing.

Unfortunately the leaker has made the dreadful mistake of turning to the western corporate media to publicise the results. In consequence the first major story, published today by the Guardian, is all about Vladimir Putin and a cellist on the fiddle. As it happens I believe the story and have no doubt Putin is bent.

But why focus on Russia? Russian wealth is only a tiny minority of the money hidden away with the aid of Mossack Fonseca. In fact, it soon becomes obvious that the selective reporting is going to stink.

read more

What are the Panama Papers? A guide to history's biggest data leak

The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.

What do they reveal? The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.


A $2bn trail leads all the way to Vladimir Putin. The Russian president’s best friend – a cellist called Sergei Roldugin – is at the centre of a scheme in which money from Russian state banks is hidden offshore. Some of it ends up in a ski resort where in 2013 Putin’s daughter Katerina got married.

related: Revealed: the $2bn offshore trail that leads to Vladimir Putin

read more

The ICIJ, releases Panama Papers
ICIJ reveals web of offshore companies to avoid and evade tax, launder money, hide wealth

After a yearlong investigation into a massive leaked cache of 11.5 million financial records, the International Consortium of Investigative Journalists today is exposing the offshore holdings of 12 current and former world leaders and revealing how associates of Russian President Vladimir Putin secretly shuffled $2 billion through banks and shadow companies. The investigation also reveals details of offshore financial dealings of 128 more politicians and public officials around the world.

The far-reaching investigation was carried out by the ICIJ, German newspaper Süddeutsche Zeitung and about 370 journalists from more than 70 countries.

ICIJ, a global network of investigative reporters who collaborate on in-depth investigative stories, is a project of the Center for Public Integrity. To read ICIJ’s reporting on its latest investigation, please visit its new dedicated website, PanamaPapers.icij.org
Center for Public Integrity

read more

ICIJ releases database revealing thousands of secret offshore companies

The International Consortium of Investigative Journalists publishes today a searchable database that strips away the secrecy of nearly 214,000 offshore entities created in 21 jurisdictions, from Nevada to Hong Kong and the British Virgin Islands.

The data, part of the Panama Papers investigation, is the largest ever release of information about offshore companies and the people behind them. This includes, when available, the names of the real owners of those opaque structures.

The database also displays information about more than 100,000 additional offshore entities ICIJ had already disclosed in its 2013 Offshore Leaks investigation.

read more

About this project

The Panama Papers is an unprecedented investigation that reveals the offshore links of some of the globe’s most prominent figures.

The International Consortium of Investigative Journalists, together with the German newspaper Suddeutsche Zeitung and more than 100 other media partners, spent a year sifting through 11.5 million leaked files to expose the offshore holdings of world political leaders, links to global scandals, and details of the hidden financial dealings of fraudsters, drug traffickers, billionaires, celebrities, sports stars and more.

The trove of documents is likely the biggest leak of inside information in history. It includes nearly 40 years of data from a little-known but powerful law firm based in Panama. That firm, Mossack Fonseca, has offices in more than 35 locations around the globe, and is one of the world’s top creators of shell companies, corporate structures that can be used to hide ownership of assets.

read more

Mossack Fonseca’s response to the Panama Papers

The Panama papers consist of millions of files leaked from the database of the Panama-based law firm Mossack Fonesca. Here is the company’s response to the leak in full.

We cannot provide responses to questions that pertain to specific matters, as doing so would be a breach of our policies and legal obligation to maintain client confidentiality. However, we can confirm the parties in many of the circumstances you cite are not and have never been clients of Mossack Fonseca.

We provide company incorporation and related administrative services that are widely available and commonly used worldwide.It is legal and common for companies to establish commercial entities in different jurisdictions for a variety of legitimate reasons, including conducting cross-border mergers and acquisitions, bankruptcies, estate planning, personal safety, restructuring and pooling of investment capital from different jurisdictions in neutral legal and tax regimes that does not benefit or disadvantage any one investor.

related: A world of hidden wealth: why we are shining a light offshore

read more

Mossack Fonseca's response to ICIJ

The Panama Papers project is based on a trove of more than 11.5 leaked files that provide details of nearly 40 years of the inner workings of Mossack Fonseca.

In addition to a later, longer, statement Mossack Fonseca sent this initial response to queries from ICIJ and its media partners.
  • “Our firm, like many firms, provides worldwide registered agent services for our professional clients (e.g., lawyers, banks, and trusts) who are intermediaries. As a registered agent we merely help incorporate companies, and before we agree to work with a client in any way, we conduct a thorough due-diligence process, one that in every case meets and quite often exceeds all relevant local rules, regulations and standards to which we and others are bound.”
  • “However, filing legal paperwork to help incorporate a company is a very different thing from establishing a business link with or directing in any way the companies so formed. We only incorporate companies, which just about everyone acknowledges is important, and something that’s critical in ensuring the global economy functions efficiently. In providing those services, we follow both the letter and spirit of the law. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing. We’re proud of the work we do, notwithstanding recent and willful attempts by some to mischaracterize it.”
  • “Finally, it is well established that many countries (e.g. UK, USA) have trust laws that permit a person or enterprise to represent a third party in a fiduciary capacity, which is 100% legal and serves an important purpose in global commerce.”
read more

Panama Papers law firm threatens to sue investigative journalism group unless it stops publishing data

The Panamanian law firm at the centre of the huge trove of leaked documents detailing offshore financial dealings says it will take legal action against an international consortium of journalists.

The Mossack Fonseca firm said in statement Tuesday that it had asked the International Consortium of Investigative Journalists to stop publishing information from the documents that it has said were obtained through a computer hack.

On Monday, the consortium published information about some 200,000 offshore entities in a searchable database. It said that did not imply all those mentioned violated the law.

read more

How the Panama Papers Revealed the Biggest Secrets of the Rich and Famous

Yesterday, a group of newspapers around the world revealed what they’re calling the Panama Papers — a massive leak of data about anonymous offshore companies held by some of the world’s most powerful and dangerous people.

“The data provides rare insights into a world that can only exist in the shadows,” wrote the German newspaper Süddeutsche Zeitung, which first acquired the documents, in an introduction to the leak.

So why is this massive data dump making so many powerful people around the world — including Russia's President Vladimir Putin — so nervous? Here's what you need to know.

read more

Full Coverage:
Panama Papers: Singapore reviewing information, doing
Panama Papers' fresh leak reveals Singapore names
Panama Papers: Singapore authorities doing the 'necessary
panama papers and singapore - hottrendsnow.net
panama papers singapore - hottrendsnow.net
Panama Papers leak: Singapore carries out checks, World
Panama Papers reveal London as centre of 'spider's web
bt.sg/panama_papers - THE BUSINESS TIMES
Panama braces for online release of Panama Papers - Yahoo
Panama Papers: Singapore authorities doing the 'necessary
Panama Papers: Mossack Fonseca has office in Singapore
S'pore investigates Panama Papers as Budget debate
Panama Papers: Singapore reviewing information, doing
Panama Papers reveal 'big holes in US enforcement' - Yahoo
Reactions to the Panama Papers - Wikipedia, the free
Panama Papers: What next for Asia? – BBC News
Panama Papers: What it’s about and why it matters to
Panama Papers - Wikipedia, the free encyclopedia
Panama Papers: Companies shift billions in Singapore - The
Panama Papers: How Singapore is Involved | The Heart Truths
Australians identified in Panama Papers could be up for criminal charges
Emma Watson & other celebs — have they done something illegal?
Panama Papers throw up confusing Singapore names
Panama Papers - Wikipedia, the free encyclopedia
Leak timeline and
Clients of Mossack
The Panama Papers · ICIJ
Panama Papers – Panama Papers
Panama Papers | The Guardian
The Panama Papers - The Panama Papers
The Panama Papers: 7 things to know - CNN.com
Panama Papers - All articles by Süddeutsche Zeitung
The Panama Papers: An Introduction · ICIJ
What are the Panama Papers? A guide to history's biggest
The Panama Papers: Here’s What We Know - The New York
Panamanian Newspapers : Newspapers from Panama
Panama Papers - BBC News
Panama Papers - Indian Express Limited
Panama Papers | The Irish Times
Reactions to the Panama Papers - Wikipedia, the free
Government reactions ... · WikiLeaks
Panama Papers: This is the leak
The Panama Papers - OCCRP
Panama Papers : NPR
Panama Papers | The Guardian
Panama papers - News, views, gossip, pictures, video
Panama Papers: What to Know About the Massive Data Leak
Panama Papers: Who's accused of what - USA TODAY
Panama Papers | Democracy Now!
Panama Papers Q&A: What is the scandal about? - BBC News
Guide to the Panama Papers - voanews.com
Panama Papers The Power Players - projects.icij.org
Panama Papers: One Week Later, Here's What We've Learned
Panama Papers - Reuters.com
The Panama Papers: Victims of Offshore - YouTube
The Panama Papers - Another Angry Voice
Panama papers offshore tax leaks: In depth news
Panama Papers - Indiatimes.com
Panama Papers - Newsweek
Panama Papers News – the latest from Al Jazeera
Panama Papers: a massive document leak reveals a global
Panama papers | VICE News
Panama Papers | South China Morning Post
Panama Papers
Panama Papers | ANCIR
Panama Papers - facebook.com
Panama Papers: Why 'John Doe' risked their life for the
Panama Papers: Database Released, Dozens of Americans
Panama Papers: What we know now - usatoday.com
Panama Papers - NBC News
The Panama Papers’ Sprawling Web of Corruption - The New
The "Panama Papers": 6 key takeaways - CBS News
Panama Papers News Search Results, AsiaOne
The ‘Panama Papers’ Scandal – At A Glance - WSJ
Panama Papers and Mossack Fonseca explained - ABC
What Are The Panama Papers? - Forbes
Panama Papers leaks: Whose heads are likely to roll
Panama Papers - The Daily Telegraph
Panama Papers: The countries implicated in the leaked
Panama Papers - Latest News on Panama Papers | Read
Panama Papers - get.com
How the Panama Papers Exposed Secrecy in the Art Market
PanamaPapers - Facebook
Panama Papers: Putin rejects corruption allegations - bbc.com
Panama Papers' 'John Doe' says inequality concerns drove
‘Panama Papers’ - 6 Security Takeaways - BankInfoSecurity
Panama Papers: City of London Is 'Beating Heart' of Tax
Panama Papers | Tax Evasion Havens | Toronto Star
Panama Papers: Largest Document Leak in History Is 'Just
Panama Papers Leak
Panama Papers - BelfastTelegraph.co.uk
Panama Papers: Who's who? - irishtimes.com
Panama Papers affair widens as database goes online - BBC
ELI5: The Panama Papers : explainlikeimfive - reddit
panama papers - Latest news, India news, world news, IPL
Panama Papers: Latest News, Photos, Videos on Panama
The Panama Papers | Pulitzer Center
Panama Papers: WikiLeaks calls for data leak to be
Panama Papers - The Independent
The 'Panama Papers' main revelations - yahoo.com
"Panama Papers" - huffingtonpost.com
Panama Papers: Malcolm Turnbull named - smh.com.au
The Panama Papers: Oozing Slime - counterpunch.org
Panama Papers put world leaders, celebrities on the
Panama Papers | Wikiwand
‘Panama Papers’ - 6 Security Takeaways - BankInfoSecurity