Panama Papers anniversary – a year of change?
This article is a summary of reporting by Transparency International EU. Originally published April 3, 2017.
One year after the April 2016 release of the Panama Papers from Panamanian firm Mossack Fonseca, civil society evaluated the impact on global financial transparency. The leak of over 11.5 million documents connected to entities in more than 200 countries prompted over 150 investigations and accelerated public registers of beneficial ownership. Despite national and European momentum to close offshore loopholes, anti-corruption watchdogs noted substantial challenges remained in ending anonymous shell ownership completely. The scandal proved to be a major catalyst in transforming international anti-money laundering frameworks and increasing pressure on secrecy jurisdictions like Panama.
AI Summary
A review of the policy changes, inquiries, and legal reforms across Europe and globally one year after the Panama Papers leak.
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