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Panama Papers-style scandal likely to follow Bermuda law firm hack

08:54 PM | 25 Oct, 2017
Panama Papers-style scandal likely to follow Bermuda law firm hack
LONDON - A Bermuda-based law firm specialising in offshore tax havens has said it is bracing for documents to be published after being approached by the media network behind the Panama Papers.

Appleby, the law firm, admitted it had been hacked last year, prompting fears of a Panama Papers-style exposé into the tax affairs of the super rich, a British newspaper reported Wednesday.

The US-based International Consortium of Investigative Journalists (ICIJ) and affiliated media raised allegations against the company's operations and its clients, following information being leaked.

The law firm, founded in 1897, is in the process of writing to customers to warn them of the compromise, which occurred in 2016, and comes after the International Consortium of Investigative Journalists (ICIJ) threatened to open up the cache of files that it claims were leaked to it in September last year.

https://en.dailypakistan.com.pk/headline/panama-papers-list-of-pakistanis-named-in-second-installment-of-massive-documents-leak/

In a statement, Appleby denied allegations of any tax evasions or other wrongdoing by itself or its clients while admitting that it was “not infallible”. The law firm – which employs 470 staffers and operates from 10 offices across the world – went on to state that it had shored up its security since the hack.

“We are committed to protecting our clients’ data and we have reviewed our cyber security and data access arrangements following a data security incident last year which involved some of our data being compromised. These arrangements were reviewed and tested by a leading IT Forensics team and we are confident that our data integrity is secure.”

The Daily Telegraph reports that the leak involved some of Britain’s wealthiest people, who were said to be consulting lawyers and public relations executives in preparations for possible fallout from the hack.

News of the breach of Appleby follows nearly 18 months after the release of the so-called Panama papers, which provoked huge embarrassment (and worse) for wealthy figures in politics and business as well as spawning a debate about the ethics of tax havens.

https://en.dailypakistan.com.pk/world/panama-papers-new-zealand-pm-john-key-thrown-out-of-parliament/

Iceland's Prime Minister Sigmundur Gunnlaugsson resigned after documents leaked from the Panama Papers revealed politically embarrassing details of his family's tax arrangements.

https://en.dailypakistan.com.pk/headline/panama-case-verdict-pakistan-supreme-court-disqualifies-pm-nawaz-sharif/

Pakistani Prime Minister Nawaz Sharif was removed from office as a result of revelations about his family finances that came out from the Panama paper leak. He is likely to face jail in coming days.

Media reports suggests Applebay's clients include FTSE 100 and Fortune 500 companies.

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Pakistani rupee registers marginal gain against US Dollar, Euro, Pound, Riyal and Dirham; Check forex rates

Pakistani rupee continued its momentum against the US dollar, and orther currencies in the open market on Thursday, as the local currency also improved in the inter-bank market.

Dollar Rate in Pakistan Today

On Thursday, the US dollar moved down and was being quoted at 283.2 for buying and 286.15 for selling.

Euro comes down to 308 for buying and 311 for selling. British Pound rate dropped to 358.5 for buying, and 362 for selling.

UAE Dirham AED witnessed slight drop and new rate stands at 77.4 whereas the Saudi Riyal remained stable at 76.

Today's currency exchange rates in Pakistan - 7 December 2023

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar USD 283.2 286.15
Euro EUR 308 311
UK Pound Sterling GBP 358.5 362
U.A.E Dirham AED 77.4 78.1
Saudi Riyal SAR 76 76.8
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 757.23 765.23
Canadian Dollar CAD 209 211
China Yuan CNY 39.89 40.29
Danish Krone DKK 41.19 41.59
Hong Kong Dollar HKD 36.41 36.76
Indian Rupee INR 3.42 3.53
Japanese Yen JPY 1.39 1.45
Kuwaiti Dinar KWD 921.71 930.71
Malaysian Ringgit MYR 61.02 61.62
New Zealand Dollar NZD 174.54 176.54
Norwegians Krone NOK 26.05 26.35
Omani Riyal OMR 739.62 747.62
Qatari Riyal QAR 78.22 78.92
Singapore Dollar SGD 211 213
Swedish Korona SEK 27.12 27.42
Swiss Franc CHF 324.94 327.44
Thai Bhat THB 8.06 8.21

Gold prices in Pakistan move down despite positive global cues; Check latest rates here

Gold price in Pakistan remained under pressure as the yellow metal moved down despite an upward trend in the international market.

Gold Rates in Pakistan Today - 7 December 2023

On Thursday, the price of a single tola of 24-karat gold stands at Rs217,100 and 10 grams of 24k gold costs Rs186,130. 

Single tola of 22 Karat Gold costs Rs199,000, 21 karat rate for per tola is Rs189,960 and 18k gold rate is Rs162,825.00 for each tola.

In the global market, gold prices hover at around $2026, gaining $8.30 on Thursday.

Today Gold Rate in Pakistan

Today Gold Price in Pakistan (4 September 2023)

City Gold Silver
Lahore PKR 217,100 PKR 2,565
Karachi PKR 217,100 PKR 2,565
Islamabad PKR 217,100 PKR 2,565
Peshawar PKR 217,100 PKR 2,565
Quetta PKR 217,100 PKR 2,565
Sialkot PKR 217,100 PKR 2,565
Attock PKR 217,100 PKR 2,565
Gujranwala PKR 217,100 PKR 2,565
Jehlum PKR 217,100 PKR 2,565
Multan PKR 217,100 PKR 2,565
Bahawalpur PKR 217,100 PKR 2,565
Gujrat PKR 217,100 PKR 2,565
Nawabshah PKR 217,100 PKR 2,565
Chakwal PKR 217,100 PKR 2,565
Hyderabad PKR 217,100 PKR 2,565
Nowshehra PKR 217,100 PKR 2,565
Sargodha PKR 217,100 PKR 2,565
Faisalabad PKR 217,100 PKR 2,565
Mirpur PKR 217,100 PKR 2,565

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