Venable partner Ashley Craig was quoted in an April 8, 2016 Law360 article on the potential impact the Panama Papers could have on sanctions enforcement. The 2.6 terabytes of data leaked to a German newspaper revealed that a Panamanian law firm helped thousands of clients, including world leaders and high-ranking government officials, set up shell companies to hide their identities and assets.
"Armed with a windfall of new intel, government enforcers and watchdogs may soon begin flexing their muscles and making life considerably tougher for the sanctions bar," said Craig. "Every corporate compliance officer is essentially drinking from a fire hose day in and day out, and this data dump makes their lives even more complicated."