Apr 1, 2016
The leak of over 2.6 terabytes of data from a Panamanian law firm and trust company has shed light on millions of pounds of undeclared assets.
The leak of over 2.6 terabytes of data from a Panamanian law firm and trust company has shed light on millions of pounds of undeclared assets. More than 214,000 offshore entities appear in the leak, connected to people in more than 200 countries and territories.
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.
Insolvency Practitioners should be aware of this leak and consider reviewing cases where individuals may have sought to hide assets overseas.
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The International Consortium of Investigative Journalists will release a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation on 9 May and IP's will be able to take advantage of the database. Further information can be found at their website.
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