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283 replies to this topic | 1,131 praises

#1

Posted 04 April 2016 - 05:22 PM

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http://www.bbc.com/news/world-35918844

 

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.

 

Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca.

 

They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.

 

The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

 

 

I wonder who are the famous people implicated ?


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#2

Posted 04 April 2016 - 05:26 PM

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I wonder who are the famous people implicated ?

Putin, Chinese President Xi, Messi, Jackie Chan were named...

 

http://www.channelne...es/2663024.html


FourZero, 2BDriver, Aaronlkl, Blueray, Ktglfc, Mercs, Byteslurve and 5 other members praised this

#3

Posted 04 April 2016 - 05:33 PM

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Saw on 9Gag that linked Putin to over a billion dollars...

 

 

I haven't watched the video yet,is look like it's gonna be interesting!


Edited by Hydrocarbon, 04 April 2016 - 05:38 PM.

Mercury1 praised this
吃别人所不能吃的苦,忍别人所不能忍的气,做别人所不能做的事,
就能享受别人所不能享受的一切.

#4

Posted 04 April 2016 - 05:36 PM

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Me in the banana leaf list

#5

Posted 04 April 2016 - 05:36 PM

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I wonder who are the famous people implicated ?

 

 

hohoho......probably many richie riche MCFers. 


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#6

Posted 04 April 2016 - 05:58 PM

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hohoho......probably many richie riche MCFers. 

 

you are probably right....... one of the MCF motto is Full Cash or nothing!

 

Full cash leaves minimal paper trial..... ideal for putting money through a washing machine....

[:p]


______________________________________________

#7

Posted 04 April 2016 - 06:03 PM

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aiyah.. all those hide here hide there no balls to admit those money are clean...... ahjib the best...donation money clean clean one.. wife can use to buy bags... [laugh]


Toothiewabbit, Tianmo, Tohto and Jamesc praised this

#8

Posted 04 April 2016 - 07:21 PM

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Where are our elites? ??

#9

Posted 04 April 2016 - 10:55 PM

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This looks like a big one.

 

A big shaking of the tree.

 

See how many monkeys fall out.

 

China is already censoring online discussions.

http://www.bbc.com/n...-china-35957235


Edited by Kb27, 04 April 2016 - 10:56 PM.


#10

Posted 04 April 2016 - 11:03 PM

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Come come... Let's have a show of hands. Whose name is on that list?

 

[laugh] [laugh]


Jamesc praised this

#11

Posted 04 April 2016 - 11:18 PM

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Come come... Let's have a show of hands. Whose name is on that list?

 

[laugh] [laugh]

 

I looked thru the list.

 

Unsurprisingly, she is on it [bounce1]

 

https://en.wikipedia.../wiki/Susan_Lim


https://offshoreleak...n&ent=on&adr=on

 

Search here.


Volvobrick and Baal praised this
That is all.

#12

Posted 05 April 2016 - 02:08 AM

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I check my name -Don't have 😠 - but many of my friends company name is there - so what does that mean actually ??

#13

Posted 05 April 2016 - 05:42 AM

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Come come... Let's have a show of hands. Whose name is on that list?

[laugh] [laugh]

πŸ’ͺπŸ’ͺπŸ’ͺπŸ’ͺ Uncle admit

#14

Posted 05 April 2016 - 06:58 AM

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Come come... Let's have a show of hands. Whose name is on that list?

 

[laugh] [laugh]

 

 

nb...you dun stir can anot.... :omg:

 

:grin:  :grin: Notice T2 not around? hahahahah


Vid praised this

RESPECT is only for the DEAD!

#15

Posted 05 April 2016 - 07:07 AM

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Panama Papers' leak boosts Panama's image as hub for money laundering
An aerial view of the Panama City bay taken on March 23, 2015. PHOTO: AFP
PUBLISHED
APR 4, 2016, 7:58 AM SGT

PANAMA CITY (AFP) - A huge data leak from a law firm in Panama suggesting it hid billions of dollars in assets of global politicians, sports stars and entertainers threatened on Sunday (April 3) to dramatically boost the country's reputation as an offshore haven for money laundering.

Panama, a small nation of just four million people, has a booming financial services sector that, including revenue from its famous canal, accounts for nearly 80 per cent of gross domestic product.

It has one of the best sustained economic growth rates in Latin America, low inflation, and uses the United States dollar as its currency.

Successive governments have strenuously sought to portray the country as a business-friendly financial hub akin to Singapore that actively encourages banking and investment.

But they have found it hard to shake a widely held image of Panama as a place where shady deals are done in secret to hide money from the tax authorities and launder the proceeds of the rich, the powerful and criminals.

 
 

After coming under heavy scrutiny in recent years from other countries, especially the United States, Panama has cleaned up its act somewhat, enough to get off an international "blacklist" of suspected money-laundering states.

In February, Panama was also taken off a "grey list" of nations with lax financial laws, but still flagged as having deficiencies in fighting money laundering.

Sunday's revelations, published under the title "The Panama Papers", could put the progress it has made at risk.

Although the media investigation into the data leak notes that many of the transactions may not in themselves be illegal, they were often politically unpalatable - and were facilitated by Panama's tardiness in fully applying international transparency rules.

Despite foreign pressure, Panama has dragged it feet on exchanging financial information with other countries and lifting its banking secrecy.

"Panama has become the most opaque place on earth," the director of the Centre for Tax Policy in the Organisation for Economic Cooperation and Development (OECD), Mr Pascal Saint-Amans, told France's iTele network on Sunday.

The Tax Justice Network, an advocacy group, in December said: "Panama thumbs its nose at transparency."

Transparency International, a corruption watchdog, ranks the country 72 out of 168 in the world (168 being the least transparent), with a pretty secretive financial system put at 14 out of 71 jurisdictions.

Last month, Panama's Foreign Minister and Vice-President Isabel De Saint Malo told BBC radio her country was "completely committed" to exchanging financial information. But she said Panama was "concerned about the cost to our financial institutions" under proposed reporting guidelines.

She was also asked specifically about the Panama-based law firm at the centre of the data leak scandal, Mossack Fonseca, and its role in a huge bribery case unfolding in Brazil involving the state oil company Petrobras.

"I think that needs to be cleared up," she admitted in the March 7 interview.

She stated, however: "Our financial sector abides by the highest standards internationally."

 

 


 

Panama Papers' leak boosts Panama's image as hub for money laundering
An aerial view of the Panama City bay taken on March 23, 2015. PHOTO: AFP
PUBLISHED
APR 4, 2016, 7:58 AM SGT

PANAMA CITY (AFP) - A huge data leak from a law firm in Panama suggesting it hid billions of dollars in assets of global politicians, sports stars and entertainers threatened on Sunday (April 3) to dramatically boost the country's reputation as an offshore haven for money laundering.

Panama, a small nation of just four million people, has a booming financial services sector that, including revenue from its famous canal, accounts for nearly 80 per cent of gross domestic product.

It has one of the best sustained economic growth rates in Latin America, low inflation, and uses the United States dollar as its currency.

Successive governments have strenuously sought to portray the country as a business-friendly financial hub akin to Singapore that actively encourages banking and investment.

But they have found it hard to shake a widely held image of Panama as a place where shady deals are done in secret to hide money from the tax authorities and launder the proceeds of the rich, the powerful and criminals.

 
 

After coming under heavy scrutiny in recent years from other countries, especially the United States, Panama has cleaned up its act somewhat, enough to get off an international "blacklist" of suspected money-laundering states.

In February, Panama was also taken off a "grey list" of nations with lax financial laws, but still flagged as having deficiencies in fighting money laundering.

Sunday's revelations, published under the title "The Panama Papers", could put the progress it has made at risk.

Although the media investigation into the data leak notes that many of the transactions may not in themselves be illegal, they were often politically unpalatable - and were facilitated by Panama's tardiness in fully applying international transparency rules.

Despite foreign pressure, Panama has dragged it feet on exchanging financial information with other countries and lifting its banking secrecy.

"Panama has become the most opaque place on earth," the director of the Centre for Tax Policy in the Organisation for Economic Cooperation and Development (OECD), Mr Pascal Saint-Amans, told France's iTele network on Sunday.

The Tax Justice Network, an advocacy group, in December said: "Panama thumbs its nose at transparency."

Transparency International, a corruption watchdog, ranks the country 72 out of 168 in the world (168 being the least transparent), with a pretty secretive financial system put at 14 out of 71 jurisdictions.

Last month, Panama's Foreign Minister and Vice-President Isabel De Saint Malo told BBC radio her country was "completely committed" to exchanging financial information. But she said Panama was "concerned about the cost to our financial institutions" under proposed reporting guidelines.

She was also asked specifically about the Panama-based law firm at the centre of the data leak scandal, Mossack Fonseca, and its role in a huge bribery case unfolding in Brazil involving the state oil company Petrobras.

"I think that needs to be cleared up," she admitted in the March 7 interview.

She stated, however: "Our financial sector abides by the highest standards internationally."

 

 

 

the BOLDED part is interesting and Singapore has been compared with them....hmmmmmmm


Mercs praised this

RESPECT is only for the DEAD!

#16

Posted 05 April 2016 - 07:39 AM

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Panama Papers' leak boosts Panama's image as hub for money laundering





An aerial view of the Panama City bay taken on March 23, 2015. PHOTO: AFP



PUBLISHEDAPR 4, 2016, 7:58 AM SGT



FACEBOOK

129

TWITTEREMAIL




PANAMA CITY (AFP) - A huge data leak from a law firm in Panama suggesting it hid billions of dollars in assets of global politicians, sports stars and entertainers threatened on Sunday (April 3) to dramatically boost the country's reputation as an offshore haven for money laundering.
Panama, a small nation of just four million people, has a booming financial services sector that, including revenue from its famous canal, accounts for nearly 80 per cent of gross domestic product.
It has one of the best sustained economic growth rates in Latin America, low inflation, and uses the United States dollar as its currency.
Successive governments have strenuously sought to portray the country as a business-friendly financial hub akin to Singapore that actively encourages banking and investment.



fonseca75.jpg
fonseca75.jpg?itok=ixThtehP
Related Story
Secret offshore dealings: Some things to know about Panama Papers leak



panamalawfirm04042016.jpg
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Panama Papers revelation a 'crime', says law firm Mossack Fonseca, whose data was leaked



37959731_-_04_04_2016_-_panama-assets-revelations.jpg
37959731_-_04_04_2016_-_panama-assets-re
Related Story
Panama Papers: Leak exposes tax havens of world leaders, celebs, including families of Xi Jinping, Najib Razak and Jackie Chan



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mossack670.jpg?itok=kdi261Tp
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But they have found it hard to shake a widely held image of Panama as a place where shady deals are done in secret to hide money from the tax authorities and launder the proceeds of the rich, the powerful and criminals.


After coming under heavy scrutiny in recent years from other countries, especially the United States, Panama has cleaned up its act somewhat, enough to get off an international "blacklist" of suspected money-laundering states.
In February, Panama was also taken off a "grey list" of nations with lax financial laws, but still flagged as having deficiencies in fighting money laundering.
Sunday's revelations, published under the title "The Panama Papers", could put the progress it has made at risk.
Although the media investigation into the data leak notes that many of the transactions may not in themselves be illegal, they were often politically unpalatable - and were facilitated by Panama's tardiness in fully applying international transparency rules.
Despite foreign pressure, Panama has dragged it feet on exchanging financial information with other countries and lifting its banking secrecy.
"Panama has become the most opaque place on earth," the director of the Centre for Tax Policy in the Organisation for Economic Cooperation and Development (OECD), Mr Pascal Saint-Amans, told France's iTele network on Sunday.
The Tax Justice Network, an advocacy group, in December said: "Panama thumbs its nose at transparency."
Transparency International, a corruption watchdog, ranks the country 72 out of 168 in the world (168 being the least transparent), with a pretty secretive financial system put at 14 out of 71 jurisdictions.
Last month, Panama's Foreign Minister and Vice-President Isabel De Saint Malo told BBC radio her country was "completely committed" to exchanging financial information. But she said Panama was "concerned about the cost to our financial institutions" under proposed reporting guidelines.
She was also asked specifically about the Panama-based law firm at the centre of the data leak scandal, Mossack Fonseca, and its role in a huge bribery case unfolding in Brazil involving the state oil company Petrobras.
"I think that needs to be cleared up," she admitted in the March 7 interview.
She stated, however: "Our financial sector abides by the highest standards internationally."






the BOLDED part is interesting and Singapore has been compared with them....hmmmmmmm
Singapore is also just another washing machine. Just with a "cleaner" brand name niah.
______________________________________________

#17

Posted 05 April 2016 - 07:39 AM

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Singapore is also just another washing machine. Just with a "cleaner" brand name niah.

 

 

ya, the more higher brand is Sentosa...hahahah



RESPECT is only for the DEAD!

#18

Posted 05 April 2016 - 08:06 AM

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Vijay Mallya is also on the list. Kingfisher king, owner of Force India F1 team. :D


We live in a primitive time, don't we, Will? Neither savage nor wise. Half measures are the curse of it; any rational society would either kill me or put me to some use.

#19

Posted 05 April 2016 - 08:08 AM

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Anyone from Singapore?


Rich: is not about how much you have, but how much you give.

The sky has turned brighter.
There's a glorious rainbow that beckons those with a spirit of adventure and there are rich findings at the end of that rainbow.
Find that rainbow, go ride it.

#20

Posted 05 April 2016 - 08:08 AM

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Vijay Mallya is also on the list. Kingfisher king, owner of Force India F1 team. :D

Eh pundek your name der

Muthusamy vadei😜😜

RESPECT is only for the DEAD!


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