On Sunday, April 3, 2016, more than 11 million documents were leaked to the press by an anonymous source and published by the International Consortium of Investigative Journalists. According to some accounts, these documents, currently being called the Panama Papers in mainstream press, were reportedly identified through a hacking of the law firm Mossack Fonesca.
Mossack Fonesca, a firm based in Panama, is said to have assisted in the creation of offshore accounts and shell companies for a significant number high net worth individuals, including more than 140 politicians and public officials as well as many high profile business personalities around the world, in order to evade tax obligations.
If you conducted business with this law firm, consider contacting your professional tax advisor to discuss possible steps to take.
