The “Panama Papers” – What Next?

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In The “Panama Papers” and the Secret World of Shell Corporations, my colleagues Carolina Fornos, Mark Hellerer, stackofpaperMaria Galeno, Joseph Jean, Alexander Hardiman, William Sullivan, Nancy Fischer, Nora Burke, Danielle Vrabie, and Matthew Putorti discuss a leak of 11.5 million documents from a law firm in Panama that may implicate politicians, criminals, and celebrities in sheltering of fortunes in offshore tax havens through the use of shell companies. Financial institutions and others may need to consider whether they are implicated by these events, assess the risks and how to minimize exposure, if any, and whether insurance coverage is available.

Additional Source: FinCEN’s First GTOs of 2016 Directed at U.S. Title Insurance Companies and “All Cash” Purchases

Photo:  Sellchi Kusunoki, Bunch of Papers, Taken Oct. 16, 2011 – Creative Commons