Malcolm Turnbull, Australia's Prime Minister was included in the controversial Panama Papers, administered by Mossack Fonseca. He disavowed any misdeed and had no knowledge of any scandal pertaining to use of shell companies to make legal arrangement and dealings.
Mossack Fonseca, the law firm which become the center of Panama Papers controversy wrote a letter of apology to its Chinese banking client. The firm aimed to sustain its business in Asia after a leak of its financial data.
On Thursday, UK Home Secretary Theresa May proposed a new law to prevent money laundering. MPs and public officials which were suspected of corruption will have to declare their wealth.
New York state’s financial regulator has told 13 foreign banks doing business there to hand over details about their dealings with a law firm in Panama that helped set up thousands of shell companies.
The group of journalists that coordinated the Panama Papers investigation into offshore companies refused to participate in a criminal probe by the U.S. Department of Justice.
The US Department of Justice has launched a criminal investigation into the widespread international tax avoidance schemes exposed by the Panama Papers leak, published by the Guardian and other journalistic partners.
The pilot program that first took effect in Shanghai will be applied in four provincial-level regions as the Xi Jin Ping administration continues its efforts to curb corruption.
U.S. Treasury Secretary announced support on restraining tax evasion during his speech in the International Monetary and Financial Committee (IMFC) press conference at the IMF headquarter on Saturday.
Chancellor George Osborne has taken the lead to create more stringent rules in tracking down illegal offshore accounts. The scandal on Panama's offshore accounts moved the country's leaders in an attempt to stop it.
The government of Venezuela has set up an investigation on the people mentioned in the Panama Papers as having hidden money in offshore bank accounts and companies.
Peru authorities raided Mossack Fonseca to retrieve evidences related to the Panama Papers investigation. The raid comes after the Panama Papers leaked names of affluent people around the world involved in hiding their assets and evading tax.
Maltese Prime Minister Joseph Muscat is being demanded to resign from his position. Two of his close political allies has been named on the massive Panama leak of documents.
German Justice Minister Heiko Maas has requested the media to release the original Panama Papers. His request comes after the German newspaper revealed the Panama Paper scandal.
Pakistani's Prime Minister Nawaz Sharif is being asked to step down by a main political rival. This is after he has been included in the list of the Panama Papers that were leaked last week.
According to the latest reports, the Panama paper firm, Mossack Fonseca, has helped set up more than 1,000 offshore companies involved in tax evasion cases. It allegedly formed the companies since 2001 in the U.S.
The European Union pledged to impose sanctions against Panama and other tax havens if they fail to cooperate with investigations on money laundering and tax evasion.
Argentine President Mauricio Macri, who was named in the controversial Panama Papers, promised to declare all documents pertaining to his alleged involved in offshore holdings to prove his innocence.
The Panama Papers is said to be the plot of the United States to weaken Russia, says President Vladimir Putin. The massive tax leak documents claim that aides close to the Russian president have offshore dealing to evade tax.
