Nobel Prize-winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth have resigned from an international committee investigating offshore tax evasion due to government interference, it has been revealed.
Even though information contained in the Panama Papers database is “incomplete and in places incorrect”, it still poses a security risk for those named, according to Mark Davies, managing director of Mark Davies & Associates.
The Financial Conduct Authority (FCA) has given banks and financial institutions until next week to declare any links to Mossack Fonseca, the law firm at the centre of the ‘Panama Papers’ controversy.
The political fallout of the leaked Panama Papers surged ahead as Iceland’s prime minister became the first global government casualty and David Cameron found himself under intense scrutiny.
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
