KPK Make Panama Papers Became Entry Door
Kamis, 07 April 2016 - 05:05 WIB
KPK Make Panama Papers Became Entry Door
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Release of leaked documents Panama Papers made Corruption Eradication Commission (KPK) currently studying the names of Indonesian individuals and companies appearing in that document.
Announced on Wednesday (6/4), KPK commissioner Laode Syarief said corruption suspects and convicts often use offshore accounts and shell companies headquartered in tax haven countries to hide and launder ill-gotten wealth.
More than 2,000 Indonesian individuals and companies are listed in the 11.5 million documents leaked from the Panamanian law firm Mossack Fonseca, which specializes in setting up offshore companies.
Compiled and analyzed by the International Consortium of Investigative Journalists (ICIJ), the Panama Papers have caused public outrage over how the world's rich and powerful stash their wealth and avoid taxes.
“The KPK is studying the names in the (Panama Papers). Offshore accounts are a big problem for law enforcers, not only in Indonesia but also overseas,” Laode said.
Part of the law firm's leaked documents was published on Monday, showing drug dealers, mafia members, corrupt politicians and tax evaders operating offshore holdings to hide their wealth from authorities.
The leaks came at a time when Indonesia is doubling up its effort to examine rich individuals and multinational companies to seek possible hidden wealth.
Indonesia's tax office and Attorney General's Office have also expressed interests in examining the documents.
Tempo, the only Indonesian publication involved in the ICIJ effort, reported that among the Indonesian businessmen on the list are Mochamad Reza Chalid, who was alleged to have controlled the country's oil imports through shady dealings, and fugitive graft suspect Djoko Tjandra.
Offshore shell companies in themselves are not illegal, thanks to loopholes in many jurisdictions, and companies around the world usually set them up to gain commercial or financial advantages.
Mossack Fonseca said on its website that the firm "conducts thorough due diligence programs to verify the legitimacy of each of our clients in accordance with the legal standards in force."
The firm also states that it is "willing to cooperate with all authorities that require information through legally established channels and in compliance with the requirements of the respective legislation."
KPK commissioner Syarief said international cooperation is needed to retrieve or freeze offshore assets owned by Indonesian graft convicts and suspects.
"KPK can do so through inter-agency cooperation, bilateral or multilateral," Laode said.
All the leaked documents, amounting to 2.6 terabytes of data by comparison, famed whistleblower Edward Snowden leaked 1.7 gigabytes of data are expected to be made public next month.
that it is Panama Papers, leaked documents from a Panamanian law firm that have shone a spotlight on widespread tax evasion and money laundering by politicians and public figures worldwide.
Announced on Wednesday (6/4), KPK commissioner Laode Syarief said corruption suspects and convicts often use offshore accounts and shell companies headquartered in tax haven countries to hide and launder ill-gotten wealth.
More than 2,000 Indonesian individuals and companies are listed in the 11.5 million documents leaked from the Panamanian law firm Mossack Fonseca, which specializes in setting up offshore companies.
Compiled and analyzed by the International Consortium of Investigative Journalists (ICIJ), the Panama Papers have caused public outrage over how the world's rich and powerful stash their wealth and avoid taxes.
“The KPK is studying the names in the (Panama Papers). Offshore accounts are a big problem for law enforcers, not only in Indonesia but also overseas,” Laode said.
Part of the law firm's leaked documents was published on Monday, showing drug dealers, mafia members, corrupt politicians and tax evaders operating offshore holdings to hide their wealth from authorities.
The leaks came at a time when Indonesia is doubling up its effort to examine rich individuals and multinational companies to seek possible hidden wealth.
Indonesia's tax office and Attorney General's Office have also expressed interests in examining the documents.
Tempo, the only Indonesian publication involved in the ICIJ effort, reported that among the Indonesian businessmen on the list are Mochamad Reza Chalid, who was alleged to have controlled the country's oil imports through shady dealings, and fugitive graft suspect Djoko Tjandra.
Offshore shell companies in themselves are not illegal, thanks to loopholes in many jurisdictions, and companies around the world usually set them up to gain commercial or financial advantages.
Mossack Fonseca said on its website that the firm "conducts thorough due diligence programs to verify the legitimacy of each of our clients in accordance with the legal standards in force."
The firm also states that it is "willing to cooperate with all authorities that require information through legally established channels and in compliance with the requirements of the respective legislation."
KPK commissioner Syarief said international cooperation is needed to retrieve or freeze offshore assets owned by Indonesian graft convicts and suspects.
"KPK can do so through inter-agency cooperation, bilateral or multilateral," Laode said.
All the leaked documents, amounting to 2.6 terabytes of data by comparison, famed whistleblower Edward Snowden leaked 1.7 gigabytes of data are expected to be made public next month.
that it is Panama Papers, leaked documents from a Panamanian law firm that have shone a spotlight on widespread tax evasion and money laundering by politicians and public figures worldwide.
(rnz)
