The Guardian (15 November 2016) reports that Mossack Fonseca, the law firm at the centre of the leaked ‘Panama papers’, has been fined $440,000 by the authorities in the British Virgin Islands.
The International Consortium of Investigative Journalists (ICIJ) has announced a new report published by Nobel prize winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth, following their resignation in August from the Panamanian government committee set up to investigate the ‘Panama papers’. The report, Overcoming the shadow economy’, recommends that every country should establish a searchable public register of beneficial ownership, require disclosure of the real owners behind all large real estate cash transactions, and apply stiff sanctions for enablers of tax evasion, avoidance or money laundering. The report argues that the US and the EU have the economic and financial power to force other nations to adopt such reforms.
The Guardian (15 November 2016) reports that Mossack Fonseca, the law firm at the centre of the leaked ‘Panama papers’, has been fined $440,000 by the authorities in the British Virgin Islands.
The International Consortium of Investigative Journalists (ICIJ) has announced a new report published by Nobel prize winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth, following their resignation in August from the Panamanian government committee set up to investigate the ‘Panama papers’. The report, Overcoming the shadow economy’, recommends that every country should establish a searchable public register of beneficial ownership, require disclosure of the real owners behind all large real estate cash transactions, and apply stiff sanctions for enablers of tax evasion, avoidance or money laundering. The report argues that the US and the EU have the economic and financial power to force other nations to adopt such reforms.
