Regulator identifies eight breaches by law firm at centre of Panama Papers, but campaigners say it is ‘too little too late’
The British Virgin Islands has fined the law firm at the centre of the Panama Papers scandal $440,000 – the largest ever penalty issued by its financial regulator – but campaigners have described the punishment as “too little too late”.
Half of the 240,000 shell companies represented by the Panamanian law firm Mossack Fonseca were incorporated in the BVI, a UK overseas territory.
Related: Mossack Fonseca: inside the firm that helps the super-rich hide their money
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