Panama Papers: Probes launched as leaders face heat over leaks

              Australia, Austria, France, Sweden and the Netherlands were among countries which said they had begun investigating the allegations, based on documents from Mossack Fonseca.. The head of Mossack Fonseca, Ramon Fonseca, has denied any wrongdoing but said his firm had suffered a successful but “limited” hack on its database. He described the hack and leak as “an international campaign against privacy”.

Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after the leak of four decades of documents from Mossack Fonseca.

Australia, Austria, France, Sweden and the Netherlands were among countries which said they had begun investigating the allegations, based on documents from Mossack Fonseca. Banks came under the spotlight for allegedly helping clients hide their funds offshore.

Also read | The Parade of the blacklisted: Funding Syria’s war and bloodshed

The Australian Tax Office said it was investigating more than 800 wealthy Mossack Fonseca clients and had linked more than 120 of them to an associate offshore service provider located in Hong Kong, which it did not name.

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Meanwhile, the head of Mossack Fonseca, Ramon Fonseca, has denied any wrongdoing but said his firm had suffered a successful but “limited” hack on its database. He described the hack and leak as “an international campaign against privacy”.

Also read | How Azerbaijan’s first family built empire of hidden wealth

The revelations drew an angry reaction from some quarters. German Economy Minister Sigmar Gabriel questioned the morals of the financial world.

“The greed of the super-rich is connected to the lack of conscience in the banking and financial sector. Both damage the trust in the rule of law,” he told Sueddeutsche Zeitung.

Also read | HSBC, UBS, Credit Suisse, other banks helped wealthy hide assets

In Ukraine, lawmakers said parliament should investigate allegations against President Petro Poroshenko as fighting between Ukraine and pro-Russian separatists peaked.

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