By using the software, the Washington-based ICIJ was able to make millions of scanned documents, some decades old, text-searchable and help its network of journalists cross reference Mossack Fonseca’s clients across these documents.
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Several countries are investigating possible financial wrongdoing by the rich and powerful after the leak of more than 11 million documents.
The UK’s financial regulator has handed banks and financial firms a deadline of next week to check if they have links to a law firm at the centre of the Panama Papers leak.
One of the deals new treasury rules that were sparked by the Panama Papers might jeopardize is the proposed merger between United States big pharma Pfizer and the Ireland-based Allergan. This is not a leak. And he was adamant that the fact that founding partner Ramon Fonseca was a friend of Mr Varela’s would not affect the government’s judgment of the firm.
“Beyond 15 April, we will require updates on any significant issues or relationships identified and a full response, detailing your findings, when your investigation is concluded”, the letter read.
The release of the so-called “Panama Papers” connected to the Mossack Fonseca law firm reflects the extensive use of Panama and offshore Caribbean corporations to avoid potential tax liability and the laundering of funds.
“The world is already accepting that privacy is not a human right”, he told AFP agency separately.
The most notable government leader would be Iceland Prime Minister Sigmundur David Gunnlaugsson who stepped down due to the controversy over his offshore holdings, which may in the end be perfectly legal.
Cameron’s late father, Ian, was among the tens of thousands of people named the leaked documents from Mossack Fonseca.
Downing Street insists it was a “private matter” whether the Cameron family still had funds in offshore investments.
He added: “I have no shares, no offshore trusts, no offshore funds, nothing like that”.
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“There are no offshore funds or trusts which the prime minister, Mrs Cameron or their children will benefit from in future”, a spokesman for Mr Cameron said this morning. British Virgin Island, Cook Island and Singapore are the favorite tax havens for Indonesians.
