A flurry of fallout continues around the world days after ICIJ and global media partners begin to publish findings from the biggest offshore leak in history.
No mention of UK taking swift action despite more than one in four of the individuals named in the Pandora leaks are UK citizens.
Lawmakers, officials and regulators from more than a dozen countries have responded to the Pandora Papers with calls for inquiries and promises of swift action to plug loopholes that have allowed secrecy to flourish in the financial system. Here are some highlights so far:
- In the U.S., lawmakers said they will respond to the Pandora Papers with new legislation targeting financial professionals and other businesses that move dirty money for corrupt clients;
- The European Commission’s head of taxation said the commission will push to crack down on tax avoidance and expand information exchange between countries;
- Enforcement agencies or leaders in India, Spain, Ireland, Mexico, Germany, Pakistan, Bulgaria, Australia, Brazil, Sri Lanka, Paraguay, Panama and more have vowed to act on the Pandora Papers revelations, as new stories continue to be published and the global response to the investigation continues to grow and evolve.