An independent British financial regulatory body has instructed banks and financial institutions to find out whether they had any ties with Mossack Fonseca law firm by April 15, the regulatory body's letter seen by British media revealed on Thursday.
MOSCOW (Sputnik) – The Panama-based law firm came into the public spotlight last week after the German newspaper Sueddeutsche Zeitung released few of the 11.5 million alleged leaked Mossack Fonseca documents that showed how some of the world’s wealthiest and most prominent individuals reportedly used offshore havens to evade taxes.
"Beyond April 15 we will require updates on any significant issues or relationships identified and a full response, detailing findings, when your investigation is concluded," the Financial Conduct Authority (FCA) letter, cited by The Financial Times, read.
Nearly 20 firms have received respective correspondence from the FCA after the so-called Panama Papers revealed around 500 banks registered about 15,600 shell companies with Mossack Fonseca, the newspaper noted.
The trove of leaked emails and other files totaling 2.6 terabytes covers a period from the 1970s to the spring of 2016.
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