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Island's reputation won't collapse after 'Panama papers'

Thu, 07 Apr 2016


Blunders in other offshore jurisdictions are reverberating on the Isle of Man. 
 
Bad press surrounding Mossack Fonseca & Co in Panama has caused a media storm worldwide this week.
 
Since the information was leaked by the International Consortium of Investigative Journalists - the Island has been targeted by UK hacks.  
 
Government's hit back stating that 'robust' defences are in place to fight against 'corruption, tax evasion and money laundering'. 
 
Mossack Fonseca Isle of Man is located on Hill Street in Douglas - it's operated here for over 20 years as a 'conduit' between trust companies and other jurisdictions. 
 
Managing director Nick Poole says it operates in 'compliance with appropriate Isle of Man laws'. 
 
Chief Minister Allan Bell says the Island's reputation won't be shaken:

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  • Alan Bell MHK

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