ICIJ Report MP Dunkley’s Comments On Appleby

November 10, 2017 | 26 Comments

The International Consortium of Investigative Journalists [ICIJ] reported on former Premier Michael Dunkley’s comments saying that Appleby may “not be a viable entity going forward,” posting his comments on their website and in their email newsletter.

In reporting on various reactions to the Paradise Papers from around the world, the investigative journalism organisation said, “Bermuda: The former head of government, Michael Dunkley, predicted that Appleby would not survive after the Paradise Papers.

“‘Sadly because of how badly they handled the hack I suggest that they will not be a viable entity going forward,” Dunkley wrote in a Facebook post. “This is also a reputation issue for Bermuda.”

Michael Dunkley On Paradise Papers Bermuda Nov 9 2017

Mr Dunkley, who served as Premier and is now an MP, discussed the matter on Facebook and the post which was cited by the ICIJ said, “Sadly because of how badly they handled the hack I suggest that they will not be a viable entity going forward.

“This is also a reputation issue for Bermuda and we must do all we can to answer questions on the matter, explain how we do business and make any changes required to strengthen the openness and transparency, but at the same time protect privacy as appropriate.”

The Paradise Papers were initially released on Sunday afternoon, and since then they have been widely covered, with the tax and business practices of politicians, celebrities and royalty being reported on by numerous major media worldwide.

The ICIJ said the files “include nearly 7 million loan agreements, financial statements, emails, trust deeds and other paperwork over nearly 50 years from inside Appleby, a prestigious offshore law firm with offices in Bermuda and beyond.”

According to their website, Appleby is “an offshore law firm with around 470 people, including 60 partners, operating from 10 offices around the globe.”

Last week, just prior to the Paradise Papers being released, the law firm confirmed they had a “data security incident last year which involved some of our data being compromised.”

In a subsequent statement, Appleby said their “firm was not the subject of a leak but of a serious criminal act and our systems were accessed by an intruder who deployed the tactics of a professional hacker.”

They also said, “We wish to apologise to our clients and to our colleagues for the difficulties which have arisen from this incident.”

Following the ICIJ’s report, Mr Dunkley told Bernews, “I am not at all surprised that the ICIJ has used the post, and since they have, let me provide some additional perspective.

“First, my colleagues and I support the Government in continuing to present the case of what Bermuda stands for and how we do business. Bermuda is constantly under attack but will always be able to support the way we do business.

“We are not a place to hide money, Bermuda is a leader in tax transparency, we share information with law enforcement agencies, have adopted international reporting standards, have no banking secrecy laws, have been recognized for country to country reporting and have been recognized for our transparency by regulators on both sides of the Atlantic.

“Bermuda’s tax system is designed to support Bermuda and has been consumption based since the 1800′s. It has never had any form of direct tax on income. Our two most important sources of revenue are taxes on payroll and customs duties.

“Our economic model contributes to global economic development and supports close to half a million jobs globally. Our survival depends on strong financial regulations and we continue to strengthen them as we did in 2016 with more authority given to the BMA. Because of all of this, the Paradise Papers are very concerning.

“We have work to do to once again to defend who we are and what we do. We will rise to the challenge as we have in the past. Appleby has much work to do in dealing with the illegal hack and if they face this challenge head on, are open and transparent about what took place they can rebuild confidence in what they do.”

click here Bermuda Paradise Papers 1

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Comments (26)

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  1. alistair says:

    this is exactly why care needs to be taken on who makes comments where and when. I thought that Mr Dunkley should have kept his opinion to himself on this one (If I were Appleby I would have been furious) and look what happens now … brilliant, just what Bermuda needs right now is a former premier saying this.
    I hope he’s had some angry calls from the Premier and Applebys.

    • Ok says:

      This is sad tho….bad rep at the wrong time…looks like Dunkley added fuel to the fire…

  2. Truth is killin' me.. says:

    Dunkley’s right. Appleby need to do a lot more and explain to the world what happened. If they don’t it will be at their peril. Keeping tight lipped and secretive will not help them. I know it was a criminal act however keeping quiet about this is damning to them.

  3. watching says:

    Disgraceful.
    Since the election Mr Dunkley has continuously posted his opinions on facebook. This is fine in some instances, but it was only a matter of time that he would put his foot in his mouth. These comments are unhelpful in this instance. By his forecasting of the demise of Appleby does he know the knock on effects that would have for Bermuda. As the former Premier, why would he add his voice to that choir?

  4. bdaboy says:

    “. By his forecasting of the demise of Appleby does he know the knock on effects that would have for Bermuda. ”

    yet, removing human rights by the current government is ok? Hypocrisy.

    • watching says:

      two totally different issues. don’t deflect.

      • puzzled says:

        Same thing really. Since your on every site in Bermuda you chime in on everything.
        The issues don’t matter. It’s your decrying what Dunkley says at every turn.
        Well done Mike.
        Truth is a Bewiched.

  5. Ken says:

    He should be more careful “going forward.”

    • Truth is killin’ me... says:

      Appleby should have been more careful with their network. They have single handedly put the reputation of the whole island in detriment because of their lax controls…criminal or otherwise.

  6. Rocky5 says:

    24 – 12

  7. Fragile Future says:

    I am not a PLP supporter, actually I am not a supporter of any political party these days, but this is why the OBA lost the election. You think that your opinion needs to be heard and is somehow more important than others. Instead of quietly working to help the situations and move this country forward, you decide to write-off Appleby, seriously! Bermuda is in the news for all the wrong reason these days. Are you actually hoping for the demise of this country because you didn’t win the election? I don’t care what party turns around the economy, I care that we grow and prosper. You had to push your way to the front of OBA when they were in power and look what happened – the OBA lost the election because of your inability to listen! Yes, you were the Premier and the Party Leader, when the PLP won by a landslide. Please do not use your Past-Premier position and speak negatively and undermine our business community. Please take a backseat, this was not your place!

    • Rocky5 says:

      Applause!!

    • Employee says:

      Dunkley is all about dunkley. Now I see his true light. I actually voted for the oba. What a fool I was.

    • Earth watch police says:

      Well done Mr Dunkly when you are in opposition you can say whatever you like keep calling out the bull###t that’s what we pay you for.

  8. Joe Bloggs says:

    Open mouth … insert foot

  9. Strictly politics says:

    This is precisely why Michael Dunkley is the former premier and is currently sitting as an opposition backbencher!

  10. Stay woke says:

    “Better to be silent and thought a fool, than to speak and remove all doubt”. Dunkley is just crying out for relevance. All the personal wealth he has cannot secure what he so desperately craves: relevance. Dignity escapes him and it is embarrassing to see this spectacle of a man refusing to accept the singular responsibility he bears for the defeat of his Alliance.

  11. Drifter says:

    What a useless and counterproductive contribution he has made in relation to Paradise Papers.

    Appleby employees in Dunkley’s constituency should be marching on his office to let him know that Bermudian jobs are at stake.

    Never getting my vote again

  12. Great says:

    What a destructive statement.He should know better.

  13. sage says:

    Is Dunks really qualified to make that assertion, also what about the BMA dealing with Applebys’ disregard of compliance responsibilities?

  14. Maxed Out says:

    I wish this twerp would go away before he does more harm.

  15. Rocky5 says:

    OBA should kick him out so he can start his own party – DAP – Dumb Ass Party!!

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