Statement by Mossack Fonsea to The New York Times
“What we’ve seen over the past several years is an evolution both in the stringency of the process for
conducting due diligence on new and prospective clients, and also in terms of widening the universe of
those responsible for leading that process. As the rules have changed, so have we, and our significantly
expanded compliance office today not only evaluates new client candidates, but also existing accounts,
and especially those that were established prior to the new international regulatory regime coming into
effect. It wasn’t always this way. Companies like ours used to be able to leverage the work and expertise
of reputable third-parties and intermediaries on issues related to due diligence. But international
regulations have changed that, and we’ve adapted accordingly.”