Thailand investigating 16 people tied to Panama Papers offshore accounts
Authorities in Thailand have verified the names of 16 citizens named in the Panama Papers leak, and are investigating their reported ties to offshore companies.
The country's Anti-Money Laundering Office said on Friday that Thai politicians and business figures are among those being investigated, but it did not name anyone.
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The agency's secretary-general, Seehanat Prayoonrat, said the 16 people were listed as directors or shareholders for companies set up by Panama-based law firm Mossack Fonseca.
Leaked documents from the firm that have been published worldwide showed it helped thousands of individuals and companies from around the world set up shell companies and offshore accounts in low-tax havens. Such accounts are a favored tool to evade taxes, launder money or pay bribes, though they have legitimate uses as well.
Law firm co-founder Ramon Fonseca has said the only law broken so far was the right to his clients' privacy.
Seehanat said his agency was seeking confirmation on the Thai names from authorities in Panama. The 16 are among 21 Thais that have been named in the now-infamous leak.
The agency focuses on money laundering but said it will share its findings with tax, banking and stock market authorities.
Additional reporting by Mashable.
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