Panama Papers: Is it about confidentiality or illegal transactions?

The infamous Panama Papers have fingered various politicians and business people in money laundering and tax evasion following a leak from Panama-based law firm, Mossack Fonseca.

Over 11 million documents mentioning people with close links to presidents David Cameron, Vladimir Putin and Jacob Zuma has sparked international outrage.

702/Cape Talk's Redi Tlhabi speaks to Amanda Potgieter from African Network of Centres for Investigative Reporting on understanding the people named in the Panama Papers.

It's taken more than 400 journalists more than a year just to work through what's been released right now.

Amanda Potgieter, African Network of Centres for Investigative Reporting

We haven't worked through half of what we want to investigate...There isn't necessarily criminal element in some of the dealings.

Amanda Potgieter, African Network of Centres for Investigative Reporting

The law firm claims to have been operating for 40 years without criminal charges being brought against them for their financial services.

The head of judges in Botswana having links to these offshore companies and not declaring it means one his shareholders could appear in his court and nobody wold challenge that he not the case through.

Amanda Potgieter, African Network of Centres for Invesigative Reporting

They say that they have done their due diligence on all their clients and have not done anything that is illegal or illicit in their dealings.

Amanda Potgieter, African Network of Centres for Investigative Reporting

It is not illegal to have an offshore account as long as you declare it in the country you're in. South African law requires that you declare the money you have offshore and you pay the tax on that.

Amanda Potgieter, African Network of Centres for Investigative Reporting

This article first appeared on 702 : Panama Papers: Is it about confidentiality or illegal transactions?


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