Featured Panama Papers

France, Panama to launch bilateral body to fight tax evasion

France and Panama have signed a bilateral agreement in Panama City to create a group designed to curb tax fraud, announced Gérald Darmanin, French minister of public accounts. The move comes years after Panama was blacklisted amid the Panama Papers tax evasion scandal. “With Panama’s Minister of Economy and Finance, Hector Alexander, we… Read More

Austrian court upholds 2.75 mln euro fine against Raiffeisen

An Austrian administrative court has rejected Raiffeisen Bank International’s challenge against a 2.75 million euro ($3.1 million) fine over insufficient anti-money-laundering checks, the bank said on Monday. Austria’s Financial Market Authority imposed the fine last year here over a breach of RBI’s due diligence requirements for the prevention of… Read More

Fears UK law change could prevent scrutiny of money launderers

Plans to introduce laws in Britain to combat money laundering could prevent the media and researchers from accessing vital information on the tide of dirty cash flowing around the world, campaigners and journalists have warned. An open letter to the foreign secretary, Jeremy Hunt, has about 80 signatories including the… Read More
5th July 2019
The British Virgin Islands is home to more than 400,000 companies that hold $1.5 trillion in assets. You wouldn’t know it if you walked through Road Town, the capital of this Caribbean archipelago. Hens and roosters compete brazenly… Read More
3rd April 2019
Members of the European Parliament are voicing concerns about the rule of law in Malta and Slovakia following the murder of two journalists investigating corruption and organized crime in the countries. The parliamentarians on Thursday formally adopted the conclusions reached last summer by a working group established within the Civil… Read More
28th March 2019
AP — Swedish authorities were raiding the headquarters of one of Sweden’s largest banks on Wednesday as part of an investigation into whether Swedbank was connected to a massive money laundering scandal in the Baltic countries. Sweden’s Economic Crime Authority said chief prosecutor Thomas Langrot is probing whether 15… Read More
17th December 2018
AP — Spanish prosecutors have charged pop music star Shakira with tax evasion, alleging she failed to pay more than 14.5 million euros ($16.3 million) between 2012 and 2014. The Colombian singer denied the charges. The charges published Friday allege that Shakira listed the Bahamas as her official residence for… Read More
11th December 2018
Frankfurt prosecutors have launched a probe against a former anti-money laundering official of Deutsche Bank on suspicion of money laundering, German public broadcaster Hessischer Rundfunk reported on Monday. The public prosecutor is accusing the former official of failing to report suspicious transactions, despite sufficient indications of money laundering, Hessischer Rundfunk… Read More
15th March 2018
Mossack Fonseca, the Panamanian law firm at the center of the “Panama Papers” scandal, said on Wednesday it was shutting down due to the economic and reputational damage inflicted by its role in the global tax evasion debacle. The so-called Panama Papers, which consist of millions of documents stolen from… Read More
4th February 2018
Switzerland’s Financial Market Supervisory Authority (Finma) has ended its work on the Panama Papers. Following revelations from the data leak in 2016, the watchdog launched investigations at more than 30 Swiss banks, focusing on their implementation of anti-money laundering regulations. In-depth investigations were carried out at around 20… Read More
19th January 2018
Germany has found no evidence of substantial breaches of money laundering rules by 11 of its banks named in the so-called Panama Papers, the country’s financial watchdog Bafin said on Wednesday. The Panama Papers detailing how the rich and powerful used offshore corporations to hide money and potentially evade taxes,… Read More
12th January 2018
HM Revenue and Customs is struggling to cope with a growing workload, including investigating revelations contained within the Paradise Papers, according to parliament’s spending watchdog. The public accounts committee has warned that it is “far from confident” that the tax authority has sufficient resources to scrutinise claims published in the… Read More
28th December 2017
More than $500 million has been recouped by tax authorities worldwide after the Panama Papers revelations, first published in April 2016. Spain alone collected $122 million after an investigation into the affairs of tax residents who had stockpiled money offshore. Among the countries represented in the Panama Papers data,… Read More