An information technology worker at the Geneva office of Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, has been arrested, Switzerland’s Le Temps newspaper reported on June 15, 2016. The paper, citing a source close to the case, said the IT employee had been placed in provisional detention on suspicion of stealing a large haul of confidential documents. / AFP PHOTO /
PANAMA CITY, Panama (AFP) — Banks based in Panama managed a record level of assets last year — $121 billion — despite fallout from the “Panama Papers” scandal, an industry body in the Central American country said Thursday.
The International Banking Center, which represents Panamanian and foreign banks, said members’ assets “reached the record level of $121.075 billion” — a jump of 3.3 percent over 2015.
Panama has come under intense international tax scrutiny since the Panama Papers revelations a year ago on how the world’s wealthy stashed their assets in offshore companies.
The two partners of the Mossack Fonseca law firm in Panama — whose plundered digital records were the source of the information — are in custody on allegations of money laundering.
Panama’s economy is forecast to grow the fastest of any in Latin America this year — over six percent, according to the World Bank.
The country is a regional transport hub, with a major international airport and the recently expanded Panama Canal.
© Agence France-Presse