‘We Resign’: That’s what Mossack Fonseca told these Indian clients …


We Resign: That's what Mossack Fonseca told these Indian clients after Panama Papers leakWe Resign: That's what Mossack Fonseca told these Indian clients after Panama Papers leak Mossack Fonseca’s office in the British Virgin Islands. Credit: ABC Four Corners/ICIJ

DAYS AFTER the Panama Papers leak — published by The Indian Express in association with the International Consortium of Investigative Journalists (ICIJ) in a series of reports starting April 4, 2016 — revealed how Mossack Fonseca (MF) helped thousands of clients set up offshore entities in tax havens, the Panamanian law firm was forced to take two urgent steps.

First, it urged its clients to comply with due diligence norms by submitting mandatory documents, including certified declarations of sources of funds, identities of beneficiary owners, and proof of identity and address. Then, after receiving a list of 69 entities for

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