Panama Papers database goes online

So what? Just like all the Wall Street and banker criminals who caused the Bush Recession meltdown in 2007, or the contractor criminals benefiting from the Iraq War also started by Bush, or all the Enron criminals, or the Keating Five, etc., etc. etc., none of these Panama Papers criminals will ever face any real justice or jail time...

I hope the The International Consortium of Investigative Journalists will do a piece about Wall Street.

Charles Keating spent four and a half years in prison.

But, yeah, not enough. And the rest did get off.

The rules are made by the rich, for the rich, and of the rich.

The database “allows users to explore the networks of companies and people that used—and sometimes abused—the secrecy of offshore locales with the help of Mossack Fonseca and other intermediaries,” the ICIJ said.

"Sometimes abused"? So these crooks have posted a load of private information, even where there has been no abuse of secrecy of offshore locales?

I'm not down with that at all.

Who elected these people to a position in which they have the right to make such judgments?

ICIJ says it is important the public be able to look at information on any offshore company in the Panama Papers.

Can only speak for myself, but I don't have any interest in looking at other people's private information.

There's nothing illegal about having a bank account with money in it somewhere. Having a bank account somewhere is no evidence of tax evasion.

The crooks are the people who are infringing on the privacy of others.

The crooks are the people who are infringing on the privacy of others.

The people who are posting private information for public viewing are crooks. But it will be nice if they expose a bunch of people for tax evasion. They probably should have dealt with it differently than posting it to the public though.

Making a mountain out of a mole hill....IMO. Most know, or should know this is a Soros partly funded operation which should raise a red flag.

China censored media and online social networks from mentioning links between the families of Chinese leaders with offshore entities.

And AFP self-censored from mentioning Mao II. (Oops, so did I!)

notable lack of u.s. citizens but if its legal, then its not tax evasion.

Offshore accounts by itself is not illegal - it's when they don't disclose it for tax purposes when it becomes illegal.

At least now people can know the names who have offshore accounts. Now it's a matter if they followed appropriate tax laws.

It's to the benefits of countries to disclose those who cheat their own tax laws and put the burden on everyone else.

I hope the taxation office is taking notes and are cross checking with the people who are listed within the Panama papers. We may hear news that some had redacted their previous statements and are submitting new ones.

"but I don't have any interest in looking at other people's private information."

Normally, I don't either. But as long as my local tax office prohibits me from hiding my savings behind anonymous overseas shell companies, I'm more than happy to look into the details of super wealthy people who DO enjoy this privilege.

I never thought I'd see Cameron be on the same list as Putin and other corrupt dictators.

my local tax office prohibits me from hiding my savings behind anonymous overseas shell companies

Does it? Japan tax residents can keep their savings wherever they like, as far as I knew.

"Japan tax residents can keep their savings wherever they like"

Not anonymously. Here in Japan I am required to report all overseas income and indicate which office is receiving my tax payments on that income. My overseas funds are in my legal name, and the local fund administrators hit me with a withholding tax, which is reported on slips that I am required to send to tax authorities in the jurisdiction.

One of my overseas investment portfolios became blocked after my Japan residency was declared. I can hold and sell but am prohibited from buying on that account. Because that is the law. Well, the law for some but evidently not for others.

By local tax office I assume you mean an overseas tax office, not Japan's.

Yes, Japan tax residents are required to report income, but they've always happily taxed me no matter where my income was derived from. That people like Hiroshi Mikitani have been named in this suggests to me that there is no such prohibition. Even a Japanese journalist I follow has recently been writing about her past experiences setting up a paper company in Panama.

That your overseas financial service provider started to turn away Japan resident clients seems to be a different issue to the "Panama Papers". If anything, your problem seems to illustrate the usefulness of such vehicles.

Strangerland: "They probably should have dealt with it differently than posting it to the public though."

Why? because the other methods have proved so effective? This article was published at 7:00 a.m this morning, and I believe quite a lot of Japanese individuals and firms have been mentioned since. More than 300, is it not? With some pretty big cases of tax evasion. Can't wait to hear the excuses later.

Funny but sad disclaimer on the ICIJ website: "There are legitimate uses for offshore companies and trusts. We do not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly."

But all those parties ARE collateral damage.

If reckless governments hadn't spent the kitty I wonder if there'd be all this fuss.

Judgement for their evil will come to them in time ...

It is terrible how a person gets five years for robbing a 7/11 for 10,000 but a person stealing 100,000,000 yen from a financial institution or evades tax is given two.

White collar crime is treated too weakly, that is why we have places like Panama doing what they do.

Mossack Fonseca on Thursday issued a “cease and desist” lawyer to the US-based ICIJ, saying that to put up the information publicly would violate attorney-client privilege.

I realize AFP is the publisher of this article so JT is limited in what it can do to fix errors, but I strongly believe what Fonseca sent was a "letter", not a "lawyer".

In USA, income and business tax for US is with same rate, However different state has different state tax rate. There are states that do not have state income tax or state business tax for residents. Such states, many people have been moving in. It is not illegal to have billions of annual income in such states if you are registered state resident.

LOL, David Cameron is one of the guys seen in the picture, but not the leaders of Afghanistan and Nigeria. Now that's funny.

"That your overseas financial service provider started to turn away Japan resident clients....."

That wasn't the case. My non-resident status created a new set of tax obligations, such as a 24% automatic withholding tax, plus trading restrictions on my account. Much of the account has since been liquidated and patriated to Japan, but only in $9,000 lumps, since the law requires that I report amounts any higher than that .

Given this harsh framework the law forces me to operate in, I'm more than happy to see the super duper rich have their secret and anonymous overseas accounts exposed and investigated.

All of your issues would seem to be specific to whatever jurisdiction you are talking about. If I were you, I'd take your business elsewhere if you are that bothered.

I don't see why you think other innocent parties should be collateral damage for your troubles in some specific jurisdiction. Sounds plain selfish to me.