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+45 +4
IRS Urges Americans: Come Clean Now, Before We Read Panama Papers
U.S. officials revealed to NBC News that they have taken part in two global meetings about the Panama Papers to plan how to use the huge trove of leaked documents to catch criminals — and urged Americans to come clean now before illegal activity is discovered. Last week's discussions in Paris and Washington between IRS and Treasury officials and their counterparts from around the world are the first evidence of U.S. involvement in the growing...
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+33 +4
Five myths about tax havens
No, they don’t protect the assets of vulnerable people.
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+35 +6
Hillary, the Panama Papers, and the death of American kleptocracy
The wealth that Hillary Clinton and her husband have accumulated through their political connections is exactly what a growing number of voters are rebelling against. Can her campaign survive the overthrow of the American kleptocracy? By Will Bunch.
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+45 +6
There will be a huge new 'Panama Papers' data dump
The International Consortium of Investigative Journalists is about to unleash a huge data dump about how some of the world's wealthiest and most powerful people hide their cash. The group has already released a host of information regarding how major figures in politics and business store their wealth in tax havens. On Wednesday the ICIJ said in an email that on May 9 it would "publish what will likely be the largest-ever release...
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+26 +4
U.S. issues rule requiring banks to identify shell company owners
The Obama administration is issuing a long-delayed rule requiring the financial industry to identify the real owners of companies and proposing a bill that would require companies to report the identities of their owners to the federal government, U.S. officials said on Thursday. The Customer Due Diligence (CDD) rule, in the works since 2012, and the proposed legislation are meant to hinder criminals from using shell companies to hide ownership and launder money...
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+4 +1
Panama Papers source breaks silence over 'scale of injustices'
The whistleblower behind the Panama Papers broke their silence on Friday to explain in detail how the injustices of offshore tax havens drove them to the biggest data leak in history. The source, whose identity and gender remain a secret, denied being a spy. “For the record, I do not work for any government or intelligence agency, directly or as a contractor, and I never have. My viewpoint is entirely my own.”
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+35 +7
Huge Panama Papers search database goes public Monday
On Monday, people everywhere will be able to see for themselves which politicians, celebrities and business executives allegedly kept secret shell companies that were exposed in the Panama Papers. A Google-like searchable database is expected to go live at 2 p.m. ET, detailing ties between 368,000 people and 300,000 offshore entities. It's being released by the International Consortium of Investigative Journalists.
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+26 +5
Panama Papers Source Wants Whistleblower Immunity to Aid Law Enforcement
The anonymous source responsible for leaking the vast document trove known as the Panama Papers said in a manifesto published on Friday that she or he “would be willing to cooperate with law enforcement” to ensure the prosecution of wrongdoing revealed by the paper trail — but only once “governments codify legal protections for whistleblowers into law.”
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+40 +7
Panama paper trail goes online with massive searchable database
One of the biggest databases of leaked documents has just hit the internet, and what lies within is a massive and complicated web of corporate ownership that spans the globe. The Panama Papers contain more than 2.5 million files, analysed by the International Consortium of Investigative Journalists and 112 reporters across 58 countries. Today's data dump is just part of the picture, detailing the relationships between individuals, companies and offshore entities.
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+31 +4
Tax havens have no economic justification, say top economists
Thomas Piketty and Jeffrey Sachs among signatories of letter urging world leaders at UK anti-corruption summit to lift secrecy
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+26 +2
'Emma receives absolutely no tax or monetary advantages from this ... only privacy"
The actress, currently taking a break from acting to campaign for feminism, is listed as a beneficiary of a company based in the British Virgin Islands. But Watson said the account was set up for the sole purpose of "protecting her anonymity and safety". A spokesman for the 26-year-old Harry Potter star said: "Emma receives absolutely no tax or monetary advantages from this offshore company whatsoever, only privacy."
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+24 +2
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.
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+31 +3
Panama Papers Show How Rich United States Clients Hid Millions Abroad
Over the years, William R. Ponsoldt had earned tens of millions of dollars building a string of successful companies. He had renovated apartment buildings in the New York City area. Bred Arabian horses. Run a yacht club in the Bahamas, a rock quarry in Michigan, an auto-parts company in Canada, even a multibillion-dollar hedge fund. Now, as he neared retirement, Mr. Ponsoldt, of Jensen Beach, Fla., had a special request for Mossack Fonseca, a Panama-based law firm well placed in the world of offshore finance...
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+35 +5
Employee of Panama Papers Law Firm, Mossack Fonseca, Is Arrested in Switzerland
An employee of the law firm at the center of the leaks of the Panama Papers, which have revealed offshore wealth held in secretive accounts worldwide, has been arrested here on charges of data theft, one of the employee’s lawyers, Romain Jordan, said on Wednesday. It was not immediately clear what connection, if any, the person might have had with the Panama Papers, a trove of 11.5 million documents from a Panama-based law firm, Mossack Fonseca. A consortium of news organizations began...
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+1 +1
Smári McCarthy: From the Panama Papers to the Pirate Party
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+17 +1
Hidden assets, hidden costs
Edward N. Luttwak reviews Bastian Obermayer and Frederik Obermaier's "The Panama Papers: Breaking the story of how the rich and powerful hide their money."
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+43 +1
Tax authorities in Denmark buy 'Panama Papers' evidence
Tax authorities in Denmark have paid 805,000 euros ($903,000) for evidence of tax evasion by its citizens in the so-called 'Panama Papers.' About 600 people could be implicated.
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+3 +1
Experts who quit Panama’s transparency commission produce their own report
Report’s authors say that the U.S. and EU have the power to force other nations to embrace transparency reforms. By Michael Hudson.
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+24 +1
Revealed: Coutts managed tax haven firms for controversial clients
Coutts, the taxpayer-owned bank, provided offshore services to controversial clients including a member of the Brunei royal family accused of stealing billions from his own country, and a banker charged with assisting the sons of Egypt’s deposed president, Hosni Mubarak, in financial crime. Known as the Queen’s bank after its most famous customer, Coutts is revealed to have managed secretive tax haven structures for the Sultan of Brunei’s younger brother, Prince Jefri Bolkiah, and the investment banker Hassan Heikal.
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+46 +1
Tax evaders exposed: why the super-rich are even richer than we thought
Analysis of a massive trove of data – much of it leaked from tax havens – suggests that inequality levels across the world should be revised upwards dramatically
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