The offshore law firm from whence the Panama Papers came is to close its doors, according to its nemesis, the International Consortium of Investigative Journalists in Washington.

A "communiqué about the closure of operations" in Spanish on the ICIJ's website, which it reports has come from the law firm itself, states: "Since we founded Mossack Fonseca 40 years ago, we have fulfilled...the needs of our clients by providing a dynamic, innovative service governed by law. [We] became a successful Panamanian company with a presence in more than 40 countries and more than 600 collaborators around the world.

"Mossack & Fonseca was the victim of a cybernetic attack on a global scale. The ICIJ, using stolen information, presented the world with an unfortunate panorama of the services that we offered, distorting the nature of the industry and its role in the global financial markets [by] spreading a series of publications full of speculation and data out of context. In doing so, it fulfilled a media agenda orchestrated by some international organisations.

"Until today, in none of the jurisdictions where MF has incorporated companies, have criminal proceedings been initiated for the provision of this service. Only in Panama do investigations exist which, regrettably, have not been handled properly. We have provided all the information that the authorities have required of us.

"Following the publication [of the Panama Papers], MF has had to [shed] offices and staff and has only 50 employees left. We have carried out the process in a completely orderly fashion in compliance with the laws of each country, always...honouring our agreements.

"The deterioration of our reputation, the media campaign [against us], the financial siege [of our firm] and irregular activities on the part of some Panamanian authorities, have caused irreparable damage. The consequence of this is the total cessation of public operations at the end of this month after 40 years of growth [in which MF has made] social, cultural and economic contributions to our country. A small group of collaborators will continue answering requests and inquiries from the authorities [and from] other public and private entities.

"We wish to express our appreciation to our customers for all their years of solidarity with our group, especially to those who have remained with us, supporting us throughout. For our part, we shall continue to call for justice, reiterating once again our continuing commitment to co-operating with the authorities. [We want to] demonstrate that no crime has been committed, struggling to compensate for the collateral damage caused to the country, to the firm...and to our clients. We ask the authorities to realise the truth about the theft of [our] information and to stop allowing pressure from some international organisations [which] do not want the truth to be known and [which] seek to subdue Panama and make it less and less competitive."

Two years ago, as reported extensively on Compliance Matters, the Panama Papers investigation revealed the offshore ties of some of the world’s most powerful 'politically exposed persons.' The firm’s internal files - which might well have been obtained by hackers working for the US Central Intelligence Agency and delivered through many hands to the ICIJ in Washington with references to American HNWs and politicians redacted - contained information on more than 214,000 offshore entities tied to 12 current or former heads of state, 140 politicians and others. The investigation also brought down the prime ministers of Iceland and Pakistan.

The law firm might now have only one office left - its Panamanian one which the authorities raided in April 2016 when the storm broke - because no others appear to be mentioned on its website. Its offices in Lima and El Salvador were also raided in April 2016; it is not known whether they are still open. It has reportedly closed dozens of offices around the world since then. In May of that year the law firm announced that it was closing its offices in Jersey, the Isle of Man and Gibraltar, adding that it intended to continue serving all of its clients. The Maltese office withdrew its name from the building's brass plate in that same month and its director resigned. The law firm closed its office in Luxembourg in February last year. By August of last year Jürgen Mossack, a founding partner of Mossack Fonseca whose father Erhard was a member of the Nazi SS 'Death's Head Division,' told the press that only about six offices were left out of the original 45. Compliance Matters has contacted the firm's Panamanian office for confirmation of its impending closure, with no comment so far.