'Probe people in Panama Papers only if there is wrongdoing'
There is no need for the government to act on Malaysians named in the Panama Papers as having set up offshore accounts, said Tourism and Culture and Tourism Minister Mohamed Nazri Abdul Aziz.
He said this is unless there is evidence of wrongdoing done using the offshore entities.
There is no need for the government to act on Malaysians named in the Panama Papers as having set up offshore accounts, said Tourism and Culture and Tourism Minister Mohamed Nazri Abdul Aziz.
He said this is unless there is evidence of wrongdoing done using the offshore entities.
This comes after several countries probe possible money laundering and tax evasion by those named in the documents leaked from Panama lawfirm Mossack Fonseca, which helped individuals set up offshore entities.
"If they (Panama Papers) just simply write like that, I don't think we need to take action," he said when met at Parliament lobby.
He, however, said if the relevant party tips the government of any offences, then the government should act.
"If there was wrongdoing, (then the government must) probe but we must be informed. Otherwise, this is nothing.
"If they have broken any law of Malaysia, then the government should investigate. Otherwise, this is a free country," he said.
However, Nazri admitted he has not read the reports on the Panama Paper, and that he only knows of the Pierce Brosnan-starring film 'The Tailor of Panama' released fifteen years ago.
Among those named to have set up offshore entities include Prime Minister Najib Abdul Razak's son Nazifuddin Najib.
Largest data leak
Nazri, earlier in another event, first questioned back whether any laws were broken over people who had hid money in the Panama-based law firm.
“Have they broken any laws? I don't think so. It’s their business what they want to do with their money,” he said in a press conference after officiating the ground-breaking ceremony of Hilton hotel at i-City today.
Action, however should be taken if they are found to have evaded tax.
“If the money is overseas (and) they don't want to bring home, that's their right. Businessmen can do so, why can't politicians do it, there can't be two different sets of laws.
“I, too, have a bank account in the United Kingdom, but there’s only 5,000 pounds,” he quipped, to laughter from those present.
The Panama Papers have been described as the largest data leak that journalists ever worked with, comprising 2.6 terabytes of data and 11.5 million documents that shed light on 214,000 shell companies.
It reportedly took the combined efforts of 370 journalists in 78 countries to sift through the documents.
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