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President must show determination to investigate Cyprus’ involvement in Mossack Fonseca revelations

 

Statement of Andros Kyprianou, General Secretary of AKEL

AKEL C.C. Press Office, 5th April 2016, Nicosia

panama papersRegarding the revelations about the activities of the Mossack Fonseca Law Firm Company, with its headquarters in Panama, as AKEL we call on the President of the Republic to immediately do what other countries have already done and to formally request the files that were leaked so that they can be studied.

As it has already been reported in the press, Cyprus’ involvement appears to be heavy as this specific company maintains an office in Limassol and because Cypriot professionals have allegedly been or/and are still mediators (introducers) in the various procedures that were followed.

The Ministry of Finance, the Ministry of Justice, the Legal Service of the Republic and the Cyprus Securities and Exchange Commission must investigate immediately the procedures pursued, as well as the involvement of Cypriot natural and legal persons in any possible cases of tax evasion, money laundering or other illegal acts.

The name of Cyprus as a financial centre is in danger of being irreversibly damaged again. The President of the Republic must show determination to investigate these revelations. This would also be the best answer to those who are claiming in bad faith that Cyprus is being ruled by certain big law firms and offices.

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