CB probing Panama Papers: Mahendran

12 April 2016 01:23 pm

The Central Bank was investigating into the materials linked to the Panama Papers and the individuals, who are possessing offshore accounts, Governor Arjuna Mahendran said today.

However, he said the authenticity of the so-called leaks was doubtful and therefore, couldn’t reveal any names of individuals, due to privacy laws. “But I don’t want to jump into any conclusions in terms of names and facts that have been mentioned in the media etc. because we have to act responsibly as there are international conventions which cover these types of data, and we don’t want to flout any of those and even our own laws which guarantee privacy to individuals. Unless people are being prosecuted in terms of confirmed territories in our courts of law, it would be wrong of us to give out any preliminary information,” he said.

“We have got some of those papers and we are requesting information from our counterparts around the world in terms of Central Banks and other investigative arms of various governments,” he said at a press conference at the Central Bank.

“At this point all I can say is that we are investigating the material and we are waiting for more material to come. There are millions of pages of documentation in this whole leak of documents.

That itself is an issue because of provenance of the materials, who leaked and all that could lay some doubts on whether that those documents are authentic,” the Governor said.

“So, we have to prove that the documents themselves are authentic and they are factually correct before we can proceed to any conclusions. All that will take time. It’s not something that we can process in a week or a month. There are various names in the documentation but like I say we have to check whether the documentations are authentic. People could have planted names and that’s always the possibility. And this information came from third parties. It didn’t come from the original source. We have to be responsible and authentic before any firm conclusions can be brought," he added.

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Video by Amantha