Private Sector

At least three dozen Americans with legal entanglements in their personal histories did business with the law firm at the heart of the Panama Papers affair, it has now emerged.

The latest release of the Panama Papers includes the name of a Mississippi businessman whose father killed 14-year-old Emmett Till - one the most high-profile racialized killings in the pre-Civil Rights US.

The International Consortium of Investigative Journalists (ICIJ) made data on 200,000 entities available on its website on Monday evening. They contain basic corporate information about companies, trusts and foundations set up in 21 jurisdictions including Hong Kong and the US state of Nevada. The data was obtained from Panamanian law firm Mossack Fonseca, which said it was hacked.

US authorities announced the arrest a prominent businessman for running a large scale money-laundering operation connected to international drug traffickers. In coordination with the US Department of the Treasury, Colombian police arrested Nidal Waked, who they accuse of leading The Waked Money Laundering Organisation (Waked MLO) with his uncle Abdul - who are now designated “Specially Designated Narcotics Traffickers”

A former top spy in Germany has gone on trial on charges of Tax Evasion. Werner Mauss, nicknamed the "German James Bond", is accused of hiding more than €15m ($17m, £13m) in offshore accounts.

Margrethe Vestager, the EU chief who presided over the decision to slap Apple with a €13bn tax bill has met with counterparts in Washington in an attempt to smooth over relations on the issue of tax.

A financial scam was committed once every 15 seconds in the first half of the year, prompting a new campaign to highlight the risks. More than one million cases of card, cheque, phone or online fraud were recorded from January to June, Financial fraud Action (FFA) said.

Panama's Cabinet On September 6, 2016, endorsed legislation to ensure the nation complies with the latest international tax transparency initiatives. The legislation would improve fiscal transparency in both the private and public sector and ensure that information is made available by the territory's financial institutions. Among other things, the legislation would empower the Ministry of Economy and Finance to better collect information required to be exchanged with other countries and compel it to improve its oversight of company reporting.

The Danish tax authority has confirmed that it intends to purchase information leaked from Panamanian law firm Mossack Fonseca. Danish Tax Minister Karsten Lauritzen announced in a statement on September 7 that the tax agency had been given permission to acquire the "Panama Papers" data following "broad political support" for the move.

he UK Government has launched a new Worldwide Disclosure Facility (WDF), which will offer a "final chance" to those with undeclared offshore income and assets ahead of the adoption of the Common Reporting Standard (CRS). The WDF was launched on September 5 and is available to anyone who wishes to disclose a UK tax liability that relates wholly or partly to an "offshore issue."