It stands out that Panama Law firm is facing much scrutiny these days as allegations continue to rise for the firm. Many speculations are escalating regarding how the firm is making itself a haven for U.S. companies, the political leaders and even prosperous individuals that wants to hide their assets and resources.
A past report from USA Today revealed that the firm is helping the elite and the rich firms to elude the spotlight and hid their resources. The scrutiny began when the company secretly hid the offshore accounts that are baffling the United States and the government as well.
According to the same report, "Mossack Fonseca, the firm whose internal records were hacked and disclosed worldwide Sunday, once listed on its website that it had an office in Miami, known as the Gateway to the Americas. That makes sense, since many Latin American companies operate in and out of the city."
It goes without saying that the company was defiled the policies and regulations set forth by the government. Moreover, its ability to hide and mask its presence in the nation is something to ponder about.
Nevertheless, despite the aims of the Panama Law Firm, the U.S. government is not laying it all down without a fight and even collaborated with the government of Panama. To prove the latter, a former report from BBC revealed, "Panama is creating an international panel to help improve transparency in its offshore financial industry."
Even President Juan Carlos Varela said, "Panama would work with other countries over the revelations. The Panamanian government, via our foreign ministry, will create an independent commission of domestic and international experts."
Although the U.S. government along with the Panamanian government are on the path to unveiling the mystery, it remains to be seen as the Panama Law firm is also determined to keep things hidden in the shadows.
