Banking watchdogs across Europe are checking whether lenders have ties to a massive document leak from Panama. |||
Geneva – Banking watchdogs across Europe have begun checking whether lenders have ties to a massive document leak from Panama that showed how offshore companies are used to stash clients’ wealth.
Switzerland’s financial watchdog FINMA said on Thursday that banks must clamp down on money-laundering, as the Geneva prosecutor opened a criminal probe.
Read: What are tax havens?
Four decades of documents from Panamanian law firm Mossack Fonseca, which specialises in setting up offshore companies and has offices in Zurich and …read more
Source: Independent Online
