Cyprus Mail
Business

Kalogerou says CySEC evaluating Panama Papers and ties to Mossfon

The Cyprus Securities and Exchange Commission expects that at the end of May it will have a first opinion based on the evaluation of information submitted by 500 supervised companies related to the Panama Papers, the Cyprus News Agency reported on Monday citing CySEC chairwoman Demetra Kalogerou.

Kalogerou, who was commenting to reporters on the occasion of the release of additional information leaked from Panamanian law firm Mossack Fonseca, said that the amount of information gathered by the Commission after it requested its supervised companies to submit, is large and “is being processed,” the agency reported.

Mossack Fonseca allegedly helped companies, politicians, criminals and celebrities set up shell companies in tax havens and evade taxes or launder money.

“I hope that by the end of the month we will be able to have a first indication,” she said, according to the Cyprus News Agency.

She added that what the Commission was looking at was whether a company entered a contract or has links to Panama or the companies listed in the so called Panama Papers, the agency reported.

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