The head of an EU parliamentary committee reviewing files leaked from Panamanian law firm Mossack Fonseca said their yearlong investigation has been hampered by officials refusing to hand over documents and bank executives failing to appear at hearings.
As media organizations prepare to launch a database of records leaked from a Panama City-based company, a top Panamanian official on Thursday reiterated the country's plans to improve its financial transparency.
The Panama Papers are justifiably grabbing headlines. But it's important to step back and have a little perspective: the use of shell companies for tax evasion, the proceeds of corruption and other crimes detailed in the papers are outrageous, but sadly nothing new.
The leak of millions of records purporting to show widespread exploitation of offshore financial centers by global leaders, lenders and criminals is expected to draw governmental scrutiny of illicit finance, however unevenly.