/ world today news/ Nearly 30 German banks, including Deutsche Bank and Commerzbank, used the services of the Panamanian firm Mossack Fonseca, which is at the center of a large-scale tax evasion scandal, the German newspaper Süddeutsche Zeitung reported. .
“At least 28 German banks have resorted in recent years to the services of Mossack Fonseca, a company specialized in settling payments to offshore companies,” writes the daily, which is a member of the International Consortium of Investigative Journalists. The journalists received the information from 11 .5 million documents that reveal the hidden assets of world political leaders, criminal networks, soccer stars or billionaires.These documents were originally obtained by the Süddeutsche Zeitung in early 2015, but have since been distributed among 370 journalists from more than 70 countries. According to Süddeutsche Zeitung, German banks created or administered more than 1,200 fictitious companies for the needs of their clients. By 2007, Deutsche Bank alone used more than 400 offshore companies According to the newspaper, several thousand Germans used Mossack Fonseca’s offshore companies.
Among the main other banks that used the services of “Mossack Fonseca” are “Commerzbank”, “Dresdner Bank”, as well as “BayernLB”. According to the publication, other regional banks also used the law firm in Panama, but did not name them. However, the publication specifies that the involved banks in question have changed their policy in recent years. “At Deutsche Bank, we are fully aware of the importance of this problem.” “We have improved the procedures for receiving clients and the checks of the people we work with,” the largest German bank responded. However, Siemens, which in 2000 was at the center of a huge bribery scandal, also appeared in the Panama Papers. According to Süddeutsche Zeitung, the money from the black boxes in South America has not been returned to the company. Instead, almost €3 million was diverted to private accounts in Switzerland and the Bahamas. “Siemens” indicated that they were not yet familiar with the exposed documents, but explained that it was about “old, already known cases”. Berlin hopes the Panama Papers revelations will give a boost to the fight against money laundering and tax fraud. “We hope that the current debate will contribute to intensifying the pressure,” said a spokesman for German Finance Minister Wolfgang Schäuble, who has been leading the fight for years. /AFP
Berlin / Germany
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