RBC agrees to give CRA names of clients linked to ‘Panama Papers’ law firm

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A police stand outside Mossack Fonseca law firm while Organized crime prosecutors raid the offices, in Panama City in April. Organized crime prosecutors raided the offices of the Mossack Fonseca law firm looking for evidence of money laundering and financing terrorism following a leak of documents about tax havens it set up for wealthy international clients.

TORONTO — Canada’s biggest bank is handing over to the government names of clients with “relationships or connections” to a Panamanian law firm at the center of a massive leak of offshore financial data, the lender confirmed on Thursday.

The Toronto Star and CBC, citing legal documents filed on Wednesday, reported that the Canada Revenue Agency had sought a court order against the Royal Bank of Canada (RBC) to compel disclosure and that the bank would not be challenging it. Royal Bank confirmed the story.

“We respect the confidentiality of our clients within the bounds of the law, and we cooperate with all of our regulators,” RBC spokeswoman Tanis Feasby said in an email.


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