Mossack Fonseca defends its ‘high standards’

The Panamanian law firm at the centre of the international controversy surrounding the ‘Panama Papers’ leak has hit out at media reports suggesting it had been a conduit for tax evasion, defending its “high standards”.

Mossack Fonseca has issued a statement on its website attacking what it said were “inaccurate” media reports about data that, it’s being claimed, revealed how it has handled the financial dealings of wealthy people, including several prominent politicians and other well known individuals.

In the statement (linked in full below), the under-fire law firm, which is one of a number of Mossack Fonseca offices around the world, defended its record.

It says the media has “portrayed an inaccurate view of the services that we provide and, despite our efforts to correct the record, misrepresented the nature of our work and its role in global financial markets”.

“These reports rely on supposition and stereotypes, and play on the public’s lack of familiarity with the work of firms like ours,” the Mossack Fonseca statement says.

“The unfortunate irony is that the materials on which these reports are based actually show the high standards we operate under.”

Click here to read Mossack Fonseca’s full statement.

As reported,  the so-called Panama Papers were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then passed them to some  107 media organisations, including the BBC’s Panorama TV show and the UK’s Guardian newspaper, in 78 countries around the world.

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