panama papers

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World Update – Panama Papers

When millions of documents were leaked from an offshore Panama firm in “The Panama Papers”, asset protection came under scrutiny by readers and officials worldwide. While there are some offshore firms that do not have adequate policies and procedures in place to ensure compliance with regulatory requirements – such as allowing precarious clients to set up asset protection vehicles or not requesting sufficient “Know-Your-Customer” documents – asset protection in and of itself is not illegal, nor is it intended to hide,