http://www.reuters.com/article/us-panama-tax-usa-banks-idUSKCN0X32U2
The U.S. Treasury
Department intends to soon issue a long-delayed rule forcing banks to
seek the identities of people behind shell-company account holders,
after the "Panama Papers" leak provoked a global uproar over the hiding
of wealth via offshore banking devices.
A
department spokesman said on Wednesday the rule would "soon" be turned
over to the White House for review and issuance, but did not confirm any
timetable for the initiative, which has taken years.
Governments
around the globe have launched probes into possible financial
wrongdoing after 11.5 million documents from the Panamanian law firm
Mossack Fonseca, nicknamed the "Panama Papers," were leaked to the media
and reports emerged Sunday. Mossak Fonseca has said it was the victim
of a computer hack, and that it has consistently acted appropriately.
The
papers offer "validation for those who have been screaming for a
decade" about the need for financial institutions in the United States
and elsewhere to address risks of money laundering, terror finance and
other crime by identifying people who clandestinely control legal
entities, former Treasury official Chip Poncy told Reuters.
Hilarious, as if none knew any of this was going on...Give me a break..
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