One year after the Panama Papers first became an international catchphrase, here’s a globe-hopping update on the people and institutions caught up in the scandal.
One year ago, ICIJ launched the biggest investigation in journalism history: the Panama Papers. It sparked protests, resignations, arrests and fierce debate around the world. And that was just the beginning.
The law firm at the heart of the Panama Papers affair, sold shell companies and held bank accounts that were used to help conceal bribes paid across South America, a Panamanian prosecutor alleged at a press conference.
The firm at the heart of the Panama Papers has been accused of selling shell companies and holding bank accounts that were used to help conceal bribes.
Police in Panama arrested the founders of Mossack Fonseca, the law firm at the center of the Panama Papers scandal, on money laundering charges Thursday after authorities raided the firm’s headquarters as part of investigations into Brazil’s largest-ever bribery scandal.
Reporters have faced consequences both in nations where media crackdowns are common and also in nations with reputations for high levels of press freedom.
The investigation has produced an almost daily drumbeat of regulatory moves, follow-up stories and calls by politicians and activists for more action to combat offshore financial secrecy.
The $440,000 penalty followed a six-month investigation which included on-site compliance inspections and the appointment of an officer to monitor Mossack Fonseca’s operations.
Report’s authors say that the U.S. and EU have the power to force other nations to embrace transparency reforms by threatening to cut off access to their financial systems.
A PR firm is being paid $50,000 a month to help the Panama government, while arrests, protests and more continue around the world.