Following the Panama and Paradise Papers leaks, David Walbank QC explains to the Institute of Chartered Accountants of England and Wales Magazine the possibilities of future scandals and the vagaries of the new financial crime provisions.
After a slew of major tax avoidance scandals in recent years, including the HSBC scandal, as well as the Panama and Paradise Papers leaks, the government clamped down hard with a number of financial crime provisions. But have they succeeded in curtailing these activities or are we likely to see more scandals emerge?
“You’d be a brave man to say it’s all come out with Panama and Paradise,” says financial crime lawyer David Walbank QC. “It may well be that other skulduggery comes to light as a result of the government provisions.”
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