The Panama Papers scandal, one of the most significant data leaks, exposed the world to the realm of offshore tax havens and illegal financial transactions.
Don’t risk your business.
Following an investigation by the Solicitors Regulation Authority, Mishcon de Reya has consented to pay a fine of £232,500.
The latest developments and investigation details on the Pandora Papers Scandal and its relation with enablers act.
Pandora Papers, reporting the financial transactions of world-famous leaders and politicians, has emerged.
The European Court of Auditors recently warned that current anti-money laundering measures are "insufficient" in the banking sector. Yet, looking at the international panorama of banking scandals of the last decade or so, it seems that it is convenient for banks to risk, incur penalties and pay.
Liberty Reserve, which used to be a Costa Rica based business, emerged as a multi-billion dollar money laundering operation.
In general, the Swedish financial sector is vulnerable to money laundering and terrorist financing.
Throughout history, some banks have been subject to money laundering scandals, but some are never forgotten.