Panama Papers law firm to close

Mossack Fonseca, the top law firm at the heart of the Panama papers leak, is to close down at the end of the month.

The company, whose 11.5 million leaked files caused scandal across the globe, had reduced its 600 staff to around 50 following the publication of the files in 2016.

In a statement it announced a “total cessation of operations to the public at the end of this month after 40 years.”

The firm insists it was a “victim of a cyber attack on a global scale”, but said it could not operate due to the attention brought by the leak. Politicians, celebrities and entrepreneurs, including David Cameron’s father Ian Cameron, all came under fire following the publication of details which revealed complex company structures set up in off-shore tax havens.