7 things to know about the "Panama Papers" leak

(Baonghean.vn) - On Monday, April 4, the International Consortium of Investigative Journalists (ICIJ) announced a document leak considered the largest in history, called the "Panama Papers" by the world media.

The “Panama Papers” case is attracting a lot of attention from the international media as well as government organizations around the world. Photo: According to Screenshot

What is the “Panama Papers” affair?

ICIJ and international media have reported on a series of tax documents, which revealed secret transactions with foreign assets of about 140 politicians, including 12 current heads of state, most notably involving Russian President Vladimir Putin, and business relationships between members of FIFA's Ethics Committee, which under US law constitute corruption.

Why does the media call it the “Panama Papers”?

More than 11 million tax documents, dating back more than four decades, were allegedly leaked from the Panama-based law firm Mossack Fonseca. ICIJ reports that the firm has helped the world's powerful hide their assets through offshore accounts. ICIJ also claims that Mossack Fonseca knew the true owners of 204 of the 14,086 companies incorporated in the Seychelles, an Indian Ocean archipelago often described as the world's tax haven.

Are all transactions involving leaked tax documents illegal?

The leaked documents are not believed to be entirely illegal. However, the creation of shell companies and offshore accounts can be used to conceal the true origin of financial transactions and ownership. Additionally, the tax documents also include blacklisted US individuals and companies linked to drug trafficking and terrorist organizations.

Who is involved in the above documents?

The tax documents involve about 12 current leaders and 140 other politicians. In addition to the allegations involving President Putin's close friend, the case also accuses Iceland's Prime Minister Sigmundur David Gunnlaugsson and Argentina's President Mauricio Macri of not being transparent in declaring their assets.

How did the accused respond to the “Panama Papers” incident?

The Kremlin has dismissed the allegations as an attempt to discredit Putin ahead of Russia's upcoming election, and FIFA has called them "absurd". A statement from the Icelandic prime minister's office said the offshore company Gunnlaugsson was linked to was a holding company owned by his wife, set up to benefit from Icelandic tax benefits. A spokesman for President Macri said he never owned shares in the company. However, Britain, France, Australia and Mexico have said they will investigate any tax evasion.

What does law firm Mossack Fonseca say about this case?

On Monday, April 4, the law firm issued a statement: "Mossack Fonseca may have been the victim of a data breach, and we have not done anything illegal that would impact the global reputation the firm has built over the past 40 years.

“Obviously, no one wants their property stolen, and we intend to do whatever we can to bring the person responsible for this leak to justice.”

Firm co-founder Ramon Fonseca Mora told CNN that the information published was erroneous and full of inaccuracies. The parties cited by ICIJ "are not and have never been clients of Mossack Fonseca."

How did ICIJ get the tax documents?

An anonymous source provided the documents to German daily Süddeutsche Zeitung and ICIJ shared them with other media organizations including the BBC, The Guardian and McClatchy.

Thanh Hien

(According to CNN)