The Panama Papers refers to the biggest leak of data in history. Over the course of a year, 2.6 terrabytes of data comprising of 11.5 million documents were passed from Panamanian law firm Mossack Fonseca to German newspaper Süddeutsche Zeitung. The news which will emerge in the coming days comes as a result of a year’s analysis between approximately 400 journalists.
Biggest leak in the history of data journalism just went live, and it's about corruption. https://t.co/dYNjD6eIeZ pic.twitter.com/638aIu8oSU
— Edward Snowden (@Snowden) April 3, 2016
How important are the Panama Papers?
Owing to the sheer scale of the leak and the parties involved, the Panama Papers are said to be the most significant uncovering in off-shore banking history. To put the leak into context, Süddeutsche Zeitung compared the Panama Papers to past leaks.
Why are they called the Panama Papers?
The leak comes from a Panama based law firm, Mossack Fonseca, a well known but secretive firm. This suits many of the world’s elite who demand secrecy surrounding their finances. Panamanian banks are prohibited from sharing any information about offshore bank accounts and their subsequent holders. This has attracted many of the world’s elite to hide money they would rather others not know about in Panama.
What is contained within the Panama Papers?
Given the sheer volume of data, we’ve only seen the tip of the iceberg so far.
Tax evasion: most prevalent&underprosecuted white collar crime of last 3 decades #panamapapers tip of giant iceberg https://t.co/e4O84EXWL3
— Mentalproof? (@waleeh004) April 3, 2016
We know that Mossack Fonseca have helped clients launder money and evade tax. What has many stunned is both the volume of data and the extent to which well-known people have utilised off-shore accounts. Some of those involved are Vladimir Putin, Lionel Messi and Ukranian President Petro Poroshenko.
Where can I find out more about the Panama Papers?
The internet is the best place to take this all in right now. We’ve pulled together some of the best sources online where you can keep up to date on the very latest breaking news on the leaks.
Panama Papers Twitter Feed
News outlets covering the leak
International Consortium of Investigative Journalists
This are but a few of the outlets leaking information from within the Panama Papers. Our protip is to keep an eye on Twitter and #PanamaPapers.