Panama Vows to Improve Transparency, Putin Blames Opponents
They want to shore up legalities. The Central American country is creating an international panel to investigate the working practices of its offshore financial industry, and to propose ways to improve transparency in Panama’s banking and legal systems. This follows a massive data leak from law firm Mossack Fonseca that revealed it helped clients — including world leaders — evade taxes and dodge sanctions. Co-founder Jürgen Mossack maintains that his colleagues have done nothing wrong, and Vladimir Putin today denied any corruption by associates named in the papers, blaming political opponents of trying to destabilize Russia.