Panama alarmed as leak threatens vital finance sector




 
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Panama alarmed as leak threatens vital finance sector
 
April 4th, 2016  
News Manager
 

Topic: Panama alarmed as leak threatens vital finance sector


Panama alarmed as leak threatens vital finance sector
Alarm spread through Panama on Monday as concerns rose that a massive data leak from one of its legal firms could threaten its vital financial services sector that relies on offshore business. President Juan Carlos Varela vowed that "what we are going to do is defend the image of our country," while worried representatives from the financial and associated legal sector held an emergency meeting with the government. The so-called Panama Papers leak has revealed that politicians, celebrities and criminals used the breached law firm, Mossack Fonseca, to create offshore entities for their assets -- in some cases to illegally launder money or evade taxes.




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