Papers on money

Papers on money

Oct 04,  · The Pandora Papers Follows The World Wide Money. by Andrew Donaldson · October 3, A massive trove of information called the Padora Papers from “a project involving news organizations in countries and territories” is being released by the Washington Post 2 days ago · The Pandora papers: who’s giving money to the Conservatives? Fresh questions for the Conservative party today after it emerged one of Sep 03,  · Troy Money - Off Papers [Label Submitted] BROKEN? 2,, views. Uploaded September 03, @TroyMoneyMCM. SHOW MORE SHOW LESS. "I Need My Money" Bank Calls The Police On A Year-Old Man Because He Allegedly Wanted To Withdraw All Of His Money & Invest It Into Crypto! , views

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The Panama Papers Spanish : Papeles de Panamá are The papers detail financial and attorney—client information for more thanoffshore entities.

The documents contain personal financial information about wealthy individuals and public officials that had previously been kept private, papers on money. SZ asked the ICIJ for help because of the amount of data involved. Journalists from media organizations in 80 countries analyzed documents detailing the operations of the law firm, papers on money.

The documents were dubbed the Panama Papers because of the country they were leaked from, but the Panamanian government expressed strong objections to the name over concerns that it would tarnish the government's and country's image worldwide, as did other entities in Panama and elsewhere.

In OctoberGerman authorities issued an international arrest warrant for the two founders of the law firm at the core of the tax evasion scandal exposed by the Panama Papers. Cologne prosecutors are seeking German-born Jürgen Mossack and Panamanian Ramón Fonseca on charges of accessory to tax evasion and forming a criminal organization.

In addition to the much-covered business dealings of British prime minister David Cameron and Icelandic prime minister Sigmundur Davíð Gunnlaugssonthe leaked documents also contain identity information about the papers on money and directors ofshell companies set up by Mossack Fonsecaas well as some of their financial transactions. Although it is generally not against the law to own an offshore shell company, reporters found that some of the shell corporations were used for illegal purposes, including fraud, tax evasion, and evading international sanctions.

The journalists on the investigative team found business transactions by many important figures in world politics, sports, and art. While many of the transactions were legal, since the data is incomplete, questions remain in many other cases; still others seem to clearly indicate ethical if not legal impropriety.

Some disclosures — tax avoidance in very poor countries by very wealthy entities and individuals for example — lead to questions on moral grounds. Other offshore shell company transactions described in the documents do seem to have broken exchange laws, violated trade sanctions or stemmed from political corruption, according to ICIJ reporters.

For example:. Named in the leak were 12 current or former world leaders; other public officials and politicians; and hundreds of celebrities, papers on money, and other wealthy individuals of over countries. Mossack Fonseca [7]. Individuals papers on money entities may open offshore accounts for any number of reasons, some of which are legal [32] but ethically questionable.

A Canadian lawyer based in Dubai noted, for example, that businesses might wish to avoid falling under Islamic inheritance jurisprudence if an owner dies. He lived in that manor for the rest of his life, filming scenes from The ShiningFull Metal Jacketand Eyes Wide Shut there as well. Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren.

Other uses are more ambiguous. Chinese companies may incorporate offshore in order to raise foreign capital, normally against the law in China. While no standard official definition exists, The Economist and the International Monetary Fund describe an offshore financial centeror tax havenas a jurisdiction whose banking infrastructure primarily provides services to people or businesses who do not live there, requires little or no disclosure of information when doing business, and offers low taxes.

Offenheiser, president of Oxfam America, "depriving governments, rich and poor, of the resources they need to provide vital public services and tackle rising inequality. Money-laundering affects the first world as well, since a favored shell company investment is real estate in Europe papers on money North America.

London, Miami, New York, Paris, Vancouver and San Francisco have all been affected. Prices are being artificially driven up by overseas criminals who want to sequester their assets here in the UK".

Panama, Vanuatu and Lebanon may find themselves on a list of uncooperative tax havens that the Organisation for Economic Co-operation and Development OECD re-activated in July at the request of G20 nations, warned Le Mondea French newspaper that participated in the investigation. Those three countries followed papers on money of the OECD's three broad guidelines for international banking cooperation: [60].

The OECDthe G20or the European Union could also institute another list for countries that are inadequate in more than one area. Countries meeting none of these criteria, such as Panama, Vanuatu and Lebanon, would go on the blacklist. Countries that meet only one criterion would go on the greylist. The Papers on money helped organize the research and document review once Süddeutsche Zeitung SZ realized the scale of the work required to validate the authenticity of 2.

They enlisted reporters and resources from The Guardianthe BBCLe MondeSonntagsZeitungFalterLa NaciónGerman broadcasters NDR and WDRand Austrian broadcaster ORFand eventually many others. Security factored into a number of project management considerations, papers on money. Saying "My life is in danger", [63] John Doe insisted that reporters communicate over encrypted channels only papers on money agree that they would never meet face-to-face.

SZ also had papers on money about security, not only for their source, the leaked documents, and their data, but also for the safety of some of their partners in the investigation living under corrupt regimes who might not want their money-handling practices made public. They stored the data in a room with limited physical access on air gapped computers that were never connected to the Internet.

The Guardian also limited access to its journalists' project work area. To make it even harder to sabotage the computers or steal their drives, SZ journalists made them more tamper-evident by painting the screws holding the drives in place with glitter nail polish. Reporters sorted the documents into a huge file structure containing a folder for each shell company, which held the associated emails, contracts, transcripts, and scanned documents Mossack Fonseca had generated while doing business with the company or administering it on a client's behalf.

Journalists indexed the documents using open software packages Apache Solr and Apache Tika[69] and accessed them by means of a custom interface built on top of Blacklight. Using Nuix, Süddeutsche Zeitung reporters performed optical character recognition OCR processing on the millions of scanned documents, papers on money the data they contained to searchable and machine-readable text.

Most project reporters then used Neo4J and Linkurious [69] to extract individual and corporate names from the documents for analysis, but some who had access to Nuix used it for this as well, papers on money. US banking and SEC expert David P. Weber assisted journalists in reviewing information from the Panama Papers. Additional stories papers on money released based on this data, and the full list of companies was released in early May The sheer quantity of leaked data greatly exceeds the WikiLeaks Cablegate leak in [61] 1.

For comparison, the 2. Mossack Fonseca notified its clients on April 1, that it had sustained an email hack. Mossack Fonseca also told news sources that the company had been hacked and always operated within the law. Data security experts noted, however, that the company had not been encrypting its emails [69] and furthermore seemed to have been running a three-year-old version of Drupal with several known vulnerabilities. The network architecture was also inherently insecure; the email and web servers were not segmented from the client database in any way, papers on money.

Some reports [80] also suggest that some parts of the site may have been running WordPress with an out-of-date version of Slider Revolution, a plugin whose previously-announced vulnerabilities [81] are well-documented. A grey hat hacker named 1× announced April 12 that Mossack Fonseca's content management system had not been secured from SQL injectiona well-known database attack vectorand that he had been able to access the customer database because of this.

Computer security expert Chris Kubecka announced May 24, that the Mossack Fonseca client login portal was running four different government grade remote access trojans RATs. Kubecka confirmed there were still numerous critical vulnerabilities, too many open ports into their infrastructure and internet access to their archive server due to weak security.

Gerard Ryledirector of the ICIJ, called the leak "probably the biggest blow the offshore world has ever taken because of the extent of the documents", papers on money.

the Panama Papers are being dissected via an unprecedented collaboration between hundreds of highly credible international journalists who have been working secretly for a year.

This is the global professionalization of leaktivism. The days of WikiLeaks amateurism are over. WikiLeaks spokesperson Kristinn Hrafnssonan Icelandic investigative journalist who worked on Cablegate insaid withholding some documents for a time does maximise the leak's impact, papers on money, but called for full online publication of the Panama Papers eventually. While offshore business entities are not illegal in the jurisdictions where they are registered, and often not illegal at all, reporters found that some Mossack Fonseca shell corporations seem to have been used for illegal purposes including fraudkleptocracytax evasion and evading international sanctions.

Reports from April 3 note the law firm's many connections to high-ranking political figures and their relatives, as well as celebrities and business figures. Initial reports identified five then-heads of state or government leaders from Argentina, Iceland, Saudi Arabia, Ukraine, and the United Arab Emirates as well as government officials, close relatives, and close associates of various heads of government of more than forty other countries.

Names of then-current national leaders in papers on money documents include President Khalifa bin Zayed Al Nahyan of the United Arab Emirates, Petro Poroshenko of Ukraine, King Salman of Saudi Arabiaand the Prime Minister of Iceland, Sigmundur Davíð Gunnlaugsson. The leaked files identified 61 family members and associates of prime ministers, presidents and kings, [] including:.

Other clients included less-senior government officials and their close relatives and associates, from over forty countries. Over £10 million of cash from the sale of the gold stolen in the Brink's-Mat robbery was laundered, first unwittingly and later with the complicity of Mossack Fonseca, through a Panamanian company, Feberion Inc.

The company was set up on behalf of an unnamed client twelve months after the robbery. The Brinks money was put through Feberion and other front companiesthrough banks in Switzerland, Liechtenstein, Jersey, and the Isle of Man. It issued bearer shares papers on money. Two nominee directors from Sark were appointed to Feberion by Jersey -based offshore specialist Centre Services, papers on money. Actor Jackie Chan is mentioned in the leaked documents as a shareholder in six companies based in the British Virgin Islands.

Law firms play a central role in offshore financial operations. The anonymity of offshore shell companies can also be used to circumvent international sanctions, and more than 30 Papers on money Fonseca clients were at one time or another blacklisted by the US Treasury Departmentincluding businesses linked to senior figures in Russia, Syria and North Korea.

Three Mossack Fonseca companies started for clients of Helene Mathieu Legal Consultants were later sanctioned by the US Treasury's Office of Foreign Assets Control OFAC. Pangates International Corporation was accused in July of supplying the government of Syria with "a large amount of specialty petroleum products" with "limited civilian application in Syria", papers on money.

The other two, Maxima Middle East Trading and Morgan Additives Manufacturing Co, and their owners Wael Abdulkarim and Ahmad Barqawi, were papers on money to have "engaged in deceptive measures" to supply oil products to Syria, papers on money.

Mossack Fonseca also ran six businesses for Rami Makhloufcousin of Syrian president Bashar al-Assaddespite US sanctions against him, papers on money. They agreed to do so only months later. The firm has said it never knowingly allowed anyone connected with rogue regimes to use its companies.

Frederik Obermaierco-author of the Panama Papers story and an investigative reporter at the German newspaper Süddeutsche Zeitungtold Democracy Now : " Mossack Fonseca realised that Makhlouf was the cousin, and they realised that he was sanctioned, and they realised that he's allegedly one of the financiers of the Syrian regime.

And they said, papers on money, 'Oh, there is this bank who still does business with him, so we should papers on money keep with papers on money, as well', papers on money. HSBC also appeared to reassure Mossack Fonseca not only that it was "comfortable" with Makhlouf as a client but suggested there could be a rapprochement with the Assad family papers on money the US, papers on money.

DCB Finance, a Virgin Islands-based shell company founded by North Korean banker Kim Chol-sam [] and British banker Nigel Cowie[] also ignored international sanctions and continued to do business with North Korea with the help of the Panamanian firm, papers on money.

The US Treasury Department in called DCB Finance a front company for Daedong Credit Bank and announced sanctions against both companies for providing banking services to North Korean arms dealer Korea Mining and Development Trading Corporation[] attempting to evade sanctions against that country, and helping to sell arms and expand North Korea's nuclear weapons programme. Cowie said the holding company was used for legitimate business and he was not aware of illicit transactions.

Mossack Fonseca, required by international banking standards to avoid money-laundering or fraudster clients, is, papers on money, like all banks, supposed to be particularly alert for signs of corruption with politically exposed persons PEPin other words, clients who either are or have close ties to government officials.

However they somehow failed to turn up any red flags concerning Tareq Abbas even though he shares a family name with the president of Palestine, papers on money, and sat on the board of directors of a company with four fellow directors the firm did deem PEP because of their ties to Palestinian politics.

Yet Mossack Fonseca actually papers on money and documented due diligence research, including a Google search.

Mossack Fonseca has managed more thancompanies over the years. Overcompanies in twenty-one jurisdictions figure in the leaks, papers on money. More than half were incorporated in the Papers on money Virgin Islandsothers in Panama, the Bahamas, the Seychelles, Niueand Samoa. Mossack Fonseca's clients have come from more than countries. Most of the corporate clients were from Hong Kong, Switzerland, the United Kingdom, papers on money, Luxembourg, Panama, and Cyprus.

Mossack Fonseca worked with more than 14, banks, law firms, incorporators, and others to set up companies, foundations, and trusts for their clients. The firm provided services to a Seychelles company named Pangates International, which papers on money US government believes supplied aviation fuel to the Syrian government during the current civil war, and continued to handle its paperwork and certify it as a company in good standing, despite sanctions, until August

The 'Pandora Papers' shows where the rich and famous hide their money

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