A short and concise guide to those wanting to know the basics of the Panama Papers controversy.
What is Mossack Fonseca, how big is it, and who uses offshore firms? Key questions about one of the biggest ever data leaks
Panama, where Mossack Fonseca is based. Photograph: DreamPictures/Getty Images/Tetra images RF
published at the Guardian
by Luke Harding
What is Mossack Fonseca?
It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management.
Where is it based?
The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havens including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and…
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