The Panama Papers: The Story So Far, And What Comes Next

Law360, New York (December 16, 2016, 5:09 PM EST) — Jeremy Maltby

Grant Damon-Feng

The offshore banking industry attracted global attention on April 3, 2016, when the International Consortium of Investigative Journalists published the “Panama Papers,” a collection of 11.5 million leaked documents detailing decades of information about over 200,000 bank accounts and shell companies created or administrated by the Panama-based law firm and corporate services provider Mossack Fonseca Co.

Although shell companies are not necessarily illegal, and in fact have valid purposes, they can be used by owners and beneficiaries to shift assets offshore,…

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