The files include information on 140 politicians from 50 countries including heads of state in Saudi Arabia, Argentina, Qatar, the UAE, Ukraine, and Iraq.
'It all started in late 2014 when a source that referred to itself as "John Doe" reached out to Bastian Obermayer, an investigative journalist for German newspaper Süddeutsche Zeitung.'
At the center of the scandal, Mossack Fonseca the Law firm in charge of setting up a complex company structure by creating shell companies to facilitate tax evasion.
Obtained by the Süddeutsche Zeitung, the whistleblower's transmitted emails and files show how the law firm in Panama, Mossack Fonseca, helped set up offshore companies that concealed the activities of their true owners.
Mossack Fonseca denies any wrongdoing. On Tuesday, the Panamanian government sought to defend the country's reputation.
On April 5, it even triggered the resignation of the 'Iceland's Prime Minister Sigmundur David Gunnlaugsson resigned on Tuesday, becoming the first casualty of leaked documents from a Panamanian law firm which have shone a spotlight on the offshore wealth of politicians and public figures worldwide.' Remember that Iceland is that little country, where the banking sector collapse in 2008 was pulling down the country's economy.
"The data includes emails, financial spreadsheets, passports and corporate records revealing the secret owners of bank accounts and companies in 21 offshore jurisdictions, from Nevada to Singapore to the British Virgin Islands.
We also faced a technical challenge of making the data readable and sharing it securely. It took us many months to clean and filter and prepare the data and then load the data to the platform."
I have been reading all news around what has been called the biggest leaking of the history of journalism, PanamaPapers, with interest from two major angles :
1- SECURITY matters : How law firms are bad at securing clients data (a point I have been making for some time!).
Panama Papers: John Doe's Manifesto. Income inequality is one of the defining issues of our time.
It affects all of us, the world over. The debate over its sudden acceleration has raged for years, with politicians, academics and activists alike helpless to stop its steady growth despite countless speeches, statistical analyses, a few meagre protests, and the occasional documentary. Still, questions remain: why? Cash Impact – Les nouvelles révélations des Panama Papers. The Risks Digest Volume 29: Issue 44. Forum on Risks to the Public in Computers and Related Systems ACM Committee on Computers and Public Policy, Peter G.
Neumann, moderator Volume 29: Issue 44 Tuesday 5 April 2016.
It employee arrest. The source brakes the silence. Mossack Fonseca security holes. Tax heaven. David Cameron. Putin. Icelandic Prime Minister. American citizens offshore investments. Breakingnews. En Francais. Auf Deutch. By Al Macintyre.
Mossack Fonseca to close offices in Jersey, Gibraltar and Isle of Man. 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 regret, as Mossack Fonseca has had a presence in these locations for more than 20 years,” the Panama-based law firm added. The office closures were part of a strategy to “consolidate our service office network,” it said. The Market Punished “Panama Papers” Firms to the Tune of $230 Billion. Since they were first published on April 3, the Panama Papers have thrust a spotlight onto world politicians, celebrities, and businesses sheltering money offshore.
The largest release of data ever on the secret world of offshore companies led to the resignation of Iceland’s prime minister. It also created an academic windfall: the opportunity to study the real financial impact of offshore vehicles. In this interview with senior editor Curt Nickisch, University of Michigan’s Ross School of Business professor Stefan Zeume discusses brand-new research resulting from the unexpected opportunity, and what he and his coauthors found: billions of dollars in lost market capitalization. When did did you and your coauthors realize that the forced transparency of the Panama Papers could help you answer questions you’ve longed to answer? It was a Sunday when the news came out, and that day we started exchanging emails, and then set up a Skype call.
City says ‘no surprise’ as more law firms named in Panama Papers leak. The head of the City of London Law Society (CLLS) has said there may be ‘perfectly good reasons’ why a number of City law firms are named as intermediaries to offshore entities in the latest Panama Papers leak.
Top firms Clifford Chance, Allen & Overy and Norton Rose Fulbright are among those identified in decades-old documents connected to Panamanian firm Mossack Fonseca that have been made public by the International Consortium of Investigative Journalists. There is no suggestion of any wrongdoing by any firm.
David Hobart, chief executive of the CLLS, told the Gazette that it was not surprising that City firms had been named and that there ‘might not be anything remotely dubious’ about their involvement with offshore accounts. He said: ‘There may be perfectly good reasons why any law firm might want to do its work with a firm in Panama and a lot of our members are international law firms.’ Panama Papers: On the Run with Fugitive Gambling Czar Calvin Ayre.
NBC News has learned that the Panama Papers expose some of the secret financial dealings of one of America's most wanted fugitives -- a flamboyant Internet gambling tycoon who has used a web of offshore companies to stay one step ahead of authorities while thumbing his nose at them, flaunting his luxe lifestyle and hiding millions of dollars in illicit loot.
U.S. authorities have been investigating Calvin Edward Ayre since at least 2003, as the relentlessly self-promotional playboy built his Bodog.com website into one of the world's biggest, most high-profile gambling and sports betting empires. Ayre made the cover of Forbes magazine as the first billionaire impresario of the online gambling world, landed on People magazine's "Hottest Bachelors" list and took "MTV Cribs" on a long, televised tour of his over-the-top, $3.5 million estate in Costa Rica.
"Long Weekend, Antigua Style" Authorities have put many of the perpetrators out of commission. Three arrested amid Panama Papers insider trade inquiry. UPDATE Panama Papers: King of Saudi Arabia accused of secretly donating $80M to Netanyahu's Israeli election campaign / Boing Boing. Update: Opposition Labour leader Isaac Herzog, identified in the original article as the source accusation denies having made the accusation; and called the websites claiming he did "unsane.
" It's hard to enumerate all the people to whom this would be politically significant: the Israeli opposition; leadership rivals from Benjamin Netanyahu's own party; Islamists who are at odds with wahabiism; fighters in Yemen and other territories where Saudi is fighting direct or proxy wars, and the citizens and elites of those countries. “In March 2015, King Salman has deposited eighty million dollars to support Netanyahu’s campaign via a Syrian-Spanish person named Mohamed Eyad Kayali. The money was deposited to a company’s account in British Virgin Islands owned by Teddy Sagi, an Israeli billionaire and businessman, who has allocated the money to fund the campaign Israeli Prime Minister Benjamin Netanyahu”, Herzog cited a leaked Panama Paper. (via Naked Capitalism) Americas - Panama warns France of blowback over tax haven listing.
EU adopts plan to share air passenger data in wake of attacks Read more Almodovar, Loach to vie for Cannes’ top prize Read more New Boko Haram video 'shows missing Chibok girls' Read more Greece's tale of two crises: 'This is a war zone' Read more Ukraine parliament appoints pro-EU Groysman as PM Read more Newly reopened Brussels airport paralysed by strike Read more Five jailed in Turkey for ‘insulting’ PM Erdogan Read more Spain arrests man suspected of arming Paris gunman Read more French, UK envoys arrive in Libya for first visit since 2014 Read more Paris to send reinforcements to Mayotte after protests Read more In pictures: Congo’s disabled couriers Read more.
Sunat allana oficina de Mossack Fonseca por Caso Panama Papers - Actualidad. La oficina en donde opera la representación del estudio panameño Mossack Fonseca en Lima, principal involucrada en el Caso Panama Papers, fue intervenida hoy por funcionarios de la Superintendencia Nacional de Administración Tributaria (Sunat), con apoyo del Ministerio Público y la Policía Nacional del Perú.
El operativo, realizado en el marco de una investigación por la presunta comisión del delito de defraudación y evasión tributaria, se inició hoy después del mediodía en la sede de la firma ubicada en la calle Roma (San Isidro). Este inmueble se encuentra frente a la embajada de Panamá en Lima y a pocas cuadras de la sede de la Unidad de Inteligencia Financiera (UIF). Aunque Mossack Fonseca no tiene personería jurídica en el Perú, el inmueble de San Isidro se convirtió en su oficina oficial desde hace casi 15 años.
La persona que encabeza la delegación de la firma pañameña es la economista peruana Mónica de Ycaza Clerc. SUNAT. Panama Papers furor claims first bank CEO. Play Video Pause Fullscreen Heartland city, shell company haven?
Cheyenne, Wyo. is getting attention for its role in the Panama papers scandal. Panama vows action to boost financial transparency. Play Video Play Fullscreen These politicians have links to the Panama Papers This is a modal window. Error Code: PLAYER_ERR_NO_SRC Here are 12 of the 140 politicians worldwide who have been linked to Mossack Fonseca either directly or by association. President Juan Carlos Varela vowed late Wednesday to take swift action to improve financial transparency in the Central American country following leaks that showed Panama-based law firm Mossack Fonseca helped some clients avoid taxes and international sanctions.
In a nationally televised address from Panama City, Varela said his government was examining ways to restore confidence in Panama's financial industry amid revelations that the law company may have helped wealthy and powerful people commit financial crimes. He said his government would establish an independent commission to strengthen transparency and work closely with international organizations and investigators. “People do make mistakes. The Panama Papers and Implications for Cyber Security in Law Firms. Mossack Fonesca HQ Raided - Panama Papers. Mossack Fonesca HQ Raided Mossack Fonseca HQ has been raided last night without any notice. This is not the first time as their local offices has been raided last week as well as they seized documents from their offices.
Mossack Fonseca still denies any wrongdoing and claims their were a victim of the hack and acted within the law. The aim of this raid, as described by the attorney was “to obtain documentation linked to the information published in news articles that establish the use of the firm in illicit activities”. Their offices were surrounded by the police and a crime unit whilst officials went inside to seize the documents. They were able to do this without interference from Mossack Fonseca. Furthermore, this raid does not stop here as they are also planning to investigate and search the other subsidiaries of Mossack Fonseca. The law firm went on to post on Twitter that M.F ” continues to co-operate with authorities in investigations made at our headquarters”
Consider the Panama Papers breach a warning. An MIT conference this week about the Internet of Things was fun until the topic of security came up. The audience stilled and focused at the mention. Sanjay Sarma, a professor of mechanical engineering at MIT, told this mostly startup crowd that he expects "a few disasters. " Ending tax havens up to US and Europe: Panama Papers reporters. Getting rid of tax havens depends on the United States and Europe, but is unlikely to happen anytime soon, journalists behind the publication of the Panama Papers said Friday.
"The biggest tax haven in the world today is probably in the United States," Jake Bernstein, a US investigative reporter with the International Consortium of Investigative Journalists (ICIJ), told a conference in Panama hosted by anti-corruption watchdog Transparency International. "The biggest offshore providers have traditionally been American and European" and the banks they use "are often American or European," he said.
"Much of this corruption could be stamped out if the United States and Europe decided to act. " Panama lawyer at center of data leak denounces attack on privacy. UK watchdog asks banks to check for ties to Panama Papers. Press Release. « Panama papers : pourquoi recourt-on aux sociétés offshore? « Panama papers »… Ces mots intriguent et font rêver. Que sont ces papiers qui viennent du Panama ? Il s’agit en réalité d’une suite considérable de révélations qui viennent relancer de très nombreux dossiers, médiatisés ou non, de ces dernières années, et parfois beaucoup plus anciens. On pourrait d’ailleurs être surpris de voir la manière dont la presse met en scène les révélations à venir, en annonçant même un programme de la semaine… Et puis on se dit que c’est après tout normal que les entreprises de presse communiquent sur leur travail.
Sur le fond du sujet, le mécanisme des sociétés offshores apparaît assez mystérieux, et il y a le danger pour toute personne impliquée de près ou de loin dans la création ou le fonctionnement d’une société offshore de se voir mêlée à ce qui apparaît comme étant systématiquement un délit. La constitution d’une société offshore n’est pas en soi nécessairement répréhensible. L’est-elle souvent ? Qu’est-ce qu’une société offshore ? Panama Papers: How the rich try to hide assets from their exes - Apr. 7, 2016. A report by the International Consortium of Investigative Journalists has shone a light on how some of the super rich around the world use secret offshore accounts and other tricks to keep their wealth hidden.
"The Panama revelations... will almost certainly drive some people to create new and more complicated vehicles which may ultimately make it more difficult to identify the assets they contain in a divorce case," said Marilyn Stowe, a senior partner at Stowe Family Law, and a top divorce lawyer in the U.K. Stowe, who has worked on a number of "big money" cases, said that in England both parties have a duty to fully disclose their assets during divorce proceedings. "But this does not always stop someone very wealthy with assets offshore who is determined to make life as difficult as possible for a spouse," she said. "It is not unknown for a party to fail to disclose an interest in an offshore asset at all. " Reports: Panama firm usurped name of Red Cross to hide money.
PARIS (AP) — The law firm at the center of the Panama offshore accounts scandal routinely usurped the name of the Red Cross and other charities to help obscure the origin of millions of dollars in questionable funds, two newspapers involved in the investigation reported Sunday. There's no suggestion that the charitable groups had any idea their name was being used in this way. International Committee of the Red Cross spokeswoman Claire Kaplun told The Associated Press on Sunday that the revelation was "a total surprise and something we find extremely shocking. " France's Le Monde and Switzerland's Le Matin Dimanche said Mossack Fonseca created dummy foundations with high-minded names such as the "Faith Foundation" to hold shares in around 500 offshore companies. ELI5: The Panama Papers : explainlikeimfive. ‘Panama Papers’ - 6 Security Takeaways. Anti-Money Laundering (AML) , Compliance , Data Breach Encryption, Access Controls and Network Monitoring Remain Essential Mathew J.
Mossfon. 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. Panama Papers. Panama Papers: The countries implicated in the leaked documents. Mossack Fonseca Media News. Organized Crime and Corruption Reporting Project. The Organized Crime and Corruption Reporting Project (OCCRP), founded in 2006, is a consortium of investigative centers, media and journalists operating in Eastern Europe, the Caucasus, Central Asia and Central America.
OCCRP is the only full-time investigative reporting organization that specializes in organized crime and corruption. It publishes its stories through local media and in English and Russian through its website. OCCRP is an early practitioner of collaborative, cross-border investigative journalism by non-profit journalism organizations, an approach that is gaining recognition in the United States and now Europe. Shots Fired: Wikileaks Accuses Panama Papers' Leaker Of Being "Soros-Funded, Soft-Power Tax Dodge" How Reporters Pulled Off the Panama Papers, the Biggest Leak in Whistleblower History. Click to Open Overlay Gallery When Daniel Ellsberg photocopied and leaked the Pentagon Papers to the New York Times in 1971, those 7,000 pages of top secret Vietnam War documents represented what was then the biggest whistleblower leak in history—a couple dozen megabytes if it were contained in a modern text file.
Almost four decades later, WikiLeaks in 2010 published Cablegate, a world-shaking, 1.73 gigabyte collection of classified State Department communications that was almost a hundred times bigger. If there’s some Moore’s Law of Leaks, however, it seems to be exponential. Fallout From Panama Papers Echoes Around The World. Updated at 8:10 p.m. The Panama Papers — Biggest leak in History Exposes Global Corruption. Panama Papers may show £17m Modigliani painting's owners.
How the Panama Papers Exposed Secrecy in the Art Market. Leak Ties Ethics Guru to Three Men Charged in FIFA Scandal · ICIJ. Panama Papers: Why the 'data dump' narrative doesn't interest the public. A top expert on tax havens explains why the Panama Papers barely scratch the surface. Panama Papers Breach Reveals Astonishingly Lax Network Security.
Banks told to declare links to Panama Papers law firm by next week. The Panama Papers: An Introduction · ICIJ. Why should we all care about Mossad Fonseca Leak revealing offshore investments? From Philby to Panama. Why Should We All Care about PanamaPapers ? The Panama Papers · ICIJ. Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption · ICIJ. Reporting Partners · ICIJ. Panama Papers, the journalism story behind the scandal. Offshore law firm runs into trouble in Las Vegas. Panama Papers summary: the financial secrets of the global elite. Panama Papers - All articles by Süddeutsche Zeitung. How Mass Media is Spinning the "Panama Papers" to the Elite's Advantage - The Vigilant Citizen - Symbols Rule the World.
France 'wrong' to designate Panama as a tax haven: president. The Panama Papers Could Really End Hillary Clinton's Campaign. The Law Firm That Works with Oligarchs, Money Launderers, and Dictators. Spies and Shadowy Allies Lurk in Secret With Help From Offshore Firm · ICIJ. Mossack Fonseca’s Willful Ignorance. Mossack Fonseca worked with oil firms owned by Iranian state despite sanctions. HSBC bank 'helped clients dodge millions in tax' I investigated Mossack Fonseca before the Panama Papers came out - and it taught me a lot about journalism. Panamanians pained by corruption claims. Panama’s laundry service. Oxfam. #PanamaPapers: Ex-UN chief Kofi Annan’s son implicated in offshore London property deal. Panama Papers: remarkable global media operation holds rich and powerful to account. What are the Panama Papers? A guide to the biggest leak in history. Panamapapers.sueddeutsche. Panama Papers: A Weapon Used Against Political Enemies of the Elite » Alex Jones' Infowars: There's a war on for your mind!
Offshore Accounts Of World Leaders Revealed. Here's Why You Should Give a Shit About the Panama Papers. Panama Papers: What did the EU Commissioner know? Breaking. World figures deny wrongdoing as 'Panama Papers' turn spotlight on tax evasion. Panama Papers: a massive document leak reveals a global web of corruption and tax avoidance. Panama tax leak reaction. Panama Papers. Panama Papers Q&A: How assets are hidden and taxes dodged.