Offshore law firm Appleby has defended itself and its clients following a data leak that is set to be made public.
In a statement published on its website, Appleby, which has offices in various tax havens, said it has received inquiries from the International Consortium of Investigative Journalists (ICIJ) and a number of media organisations that are partners of the ICIJ.
“These inquiries have arisen from documents that journalists claim to have seen and involve allegations made against our business and the business conducted by some of our clients.
“We take any allegation of wrongdoing, implicit or otherwise, extremely seriously. Appleby operates in highly regulated jurisdictions and like all professional organisations in our regions, we are subject to frequent regulatory checks and are committed to achieving the high standards set by our regulators.
“We are also committed to the highest standards of client service and confidentiality. It is what we stand for. This commitment is unequivocal,” it said.
According to Appleby, it has “thoroughly and vigorously” investigated the allegations and is satisfied that there is no evidence of wrongdoing either by the law firm or its clients.
“We refute any allegations which may suggest otherwise and would be happy to cooperate fully with any legitimate and authorised investigation of the allegations by the appropriate and relevant authorities.
“We are an offshore law firm that advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour. It is true that we are not infallible. Where we find that mistakes have happened, we act quickly to put things right and we make the necessary notifications to the relevant authorities,” it added.
Appleby also expressed disappointment that the media might choose to use information which could have emanated from material obtained illegally and that this might result in exposing innocent parties to data protection breaches.
“Having researched the ICIJ’s allegations, we believe they are unfounded and based on a lack of understanding of the legitimate and lawful structures used in the offshore sector,” it added.
News of the leak, which is said to be similar to the Panama Papers, was reported by several media organisations, including the AFP, The Telegraph and Independent.
These media organisations noted how the “super rich” were bracing themselves for the revelation of their financial details.
According to The Telegraph, the leak is believed to also involve some of Britain's wealthiest people.
At this point, it is not publically known if the Appleby leak would also hit closer to home. Previously, the Panama Papers saw several names of Malaysians cropping up.- Mkini
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