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Red Cross name used by Panama law firm to mask money?

 
It's been about a week since the publication of biggest data leak in history shocked the world, but the case is far from being resolved.

New findings show... the law firm at the center of the Panama offshore accounts scandal routinely usurped the name of the Red Cross and other charities to help hide the origin of millions of dollars in questionable funds.

Exactly how?
Our Hwang Ho-jun has the story.

The founders of the secretive law firm at the center of the Panama Papers saga continue to claim that they too are victims of one of the biggest data leaks in history.

But they face a mounting pile of evidence against them as revealed in their own files which outline years of deceit and bending the rules.

"New news should be 'Who is investigating the hack?' We are amazed that nobody has said, 'Hey, a crime has been committed here.'" According to the Le Matin Dimanche, a Swiss newspaper that has partnered with the International Consortium of Investigative Journalists, Mossack Fonseca usurped the name of the International Committee of the Red Cross and was listed as a beneficiary of two shell foundations.

It was allegedly allowed under a legal loophole, without the organization's knowledge.

The Panamanian law firm also apparently established the fake "Brotherhood Foundation" and "Faith Foundation," and offered them to clients as an asset holding body.
 
redcross name misused by panama law firm

Responding to the Swiss papers' report on Sunday, the Red Cross denied any ties with Mossack Fonseca and rebuked the unauthorized use of the organization's name, saying it poses "enormous" risks for its operations.

"This indeed the name of our organization has been abused in anyway, then we thoroughly condemn it. Such abuse have an impact on our activities and security in the field so we take this issue extremely seriously."

The organization said the humanitarian institution works in war zones and conflict areas, where the security of its staff is partly guaranteed because of what their emblem represents -- neutrality, independence and integrity -- which could be threatened if it was perceived as receiving money from questionable sources. Other charities such as the World Wildlife Foundation were also secretly used by Mossack Fonseca.

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