A file of more than 11 million records with detailed financial and attorney-client information regarding a huge number of offshore entities, the "Panama Papers", have been processed and published by the International Consortium of Investigative Journalists (ICIJ). The analysis of the papers provided examples of how offshore business entities are used to maintain privacy of personal financial information but also of how they could potentially be misused for illegal purposes e.g. evading international sanctions, tax evasion or fraud.
complias supports financial intermediaries and other companies in their duties to identify, address and mitigate money laundering (AML) related and reputational risks. Within this framework complias offers his services restructuring, standardizing and providing a comprehensive, ready to use list related to the “Panama Papers".
Screening the client/vendor databases against the Panama Papers, analysing the results and taking respective action are essential steps regarding due diligence and appropriate KYC/KYV* procedures.
Request service pricing: necessary information for a pricing are company name and location and client/vendor base volume to screen against the Panama Papers.
* Know Your Customer / Know Your Vendor
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