Money Laundering

Photo: AP On Thursday night, the Obama administration announced that it was taking executive action to close loopholes that enable the kind of tax evasion and money laundering recently revealed by the Panama Papers. The new regulations will compel companies to disclose more information about their owners, the Associated Press reports. “The Panama Papers underscore […]

Colombian authorities have arrested a prominent Panama businessman they’re calling the world’s most-wanted money launderer and froze assets belonging to dozens of companies linked to him that were allegedly used to hide millions in illegal drug profits. The coordinated operation was announced Thursday as the U.S. Treasury Department froze assets belonging to 68 companies in […]

Former Brazilian coach Luiz Felipe Scolari was investigated by Portuguese authorities for tax fraud, but the case was reportedly dropped after a €3 million settlement. Ministers approved the sale of Taranaki’s Onetai station to a Panamanian firm whose treasurer was also a director of a company that Portugal believed laundered money for former Brazilian and Portuguese national soccer coach […]

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth. Eleven million documents were leaked from one of the world’s most secretive companies, Panamanian law firm Mossack Fonseca. They show how Mossack Fonseca has helped clients launder money, dodge sanctions and avoid tax. The company […]

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By Samuel Rubenfeld CONNECT Agence France-Presse/Getty Images A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk. Bribery: As the Supreme Court considers the appeal […]

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In mid-April, economist Michael Hudson told The Real News Network that global oil and mining industries and the U.S. State Department created Panama and Liberia for the express purpose of tax evasion. Read a full transcript of Hudson’s exchange with host Sharmini Peries below. —Posted by Alexander Reed Kelly. SHARMINI PERIES, TRNN: It’s the Real […]

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It took a massive leak of secret records from a Panama City law firm to reveal the global scope of tax evasion, profit offshoring and money laundering. The scandal from the “Panama Papers” has already brought down a head of state, sparked numerous investigations and ensnared sports figures, ruling families and politicians from democratic and […]

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The Justice Department has opened a formal criminal investigation into potentially widespread illegalities exposed by the Panama Papers, the massive leak of financial details about secret offshore accounts, federal law enforcement officials told NBC News Wednesday — and its first priority will be finding wrongdoing by U.S. firms and individuals. The U.S. Attorney in Manhattan, […]

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