Police in Panama have raided the headquarters of the law firm at the centre of a massive data leak, the BBC reported on Wednesday.

Prosecutors said the operation had been carried out at the offices of Mossack Fonseca in Panama City "without incident or interference".

The leaked "Panama Papers" have shown how some wealthy people use offshore firms to evade tax and avoid sanctions.

The firm has denied wrongdoing. It says it is the victim of a hack and that the information is being misrepresented.

Panamanian President Juan Carlos Varela has promised to work with other countries to improve transparency in its offshore financial industry.

Source : MENA