Author: Marc Y. Tassé

Headshot of Marc Tassé, Internationally-known compliance and anti-corruption expert

About Marc Y. Tassé

Marc Y. Tassé, MBA, CPA, CA, FCPA (USA), CICA (USA), CFF (USA), is a senior instructor for the Canadian Centre of Excellence for Anti-Corruption, a special advisor to international organizations, a guest contributor on corporate governance and ethics for CBC/Radio-Canada, and a guest blogger on white-collar crime.

Guest Post: Panama Papers and the emergence of anti-corruption compliance

This week, White Collar Post features a guest post from internationally known compliance and anti-corruption expert Marc Y. Tassé.

While the leaks continue from the “Panama Papers”, continuing to make headlines around the world, and as the related scandals intensify, there have been numerous articles written on the whole topic. My following comments and remarks take under consideration and outline some of those and my own comments.

The International Consortium of Investigative Journalists obtained millions of documents showing heads of state, criminals and celebrities using secret hideaways in tax havens.

  • Files reveal the offshore holdings of 140 politicians and public officials from around the world
  • Current and former world leaders in the data include the prime minister of Iceland, the president of Ukraine, and the king of Saudi Arabia
  • More than 214,000 offshore entities appear in the leak, connected to people in more than 200 countries and territories
  • Major banks have driven the creation of hard-to-trace companies in offshore havens

Offshore banking is not in itself illegal, and those named in the “Panama Papers” should not automatically be presumed to have done anything wrong, but history has shown that secrecy attracts those with something to hide. The offshore banking system is being abused for illicit purposes such as tax evasion and money laundering resulting from corruption.

Continue Reading »