Panamanian Data Leak Reflects Limits on Global Watchdogs’ AML Work

By Colby Adams and Valentina Pasquali

With national governments this week mustering responses to a massive leak of privileged documents, the international groups that direct the global fight against money laundering have remained relatively quiet, and could stay so. On Sunday, the International Consortium of Investigative Journalists (ICIJ), the Organized Crime, Corruption and Reporting Project and other news agencies published a fraction of the 11.5 million files obtained from Mossack Fonseca, exposing the Panama City-based firm's secret business ties to over 150 current and former heads of state and sparking calls for investigations. The apparent, widespread exploitation of offshore corporations created by the firm to conceal...