Who Dodged U.S. Sanctions in Panama

By Adam Chandler

…In a statement, the law firm claims it “never knowingly allowed the use of our companies by individuals having any relationship with North Korea, Zimbabwe, Syria and other countries that have been listed as sanctioned.”

Benjamin Schmidt, the managing director of the Camstoll Group, a sanctions and illicit-finance risk-advisory firm, said part of the problem with names on a sanctions list is they appear to exist in isolation.

“The leaked records out of Panama serve as a reminder that sanctioned actors are often supported by global networks and front companies,” Schmidt wrote in an email. “Banks, multinational companies, and NGOs need more information than simply names on a sanctions list to be sure they aren’t dealing with an entire web of bad actors.”

For more on this story, read the original The Atlantic article.