***Please note this leak seems to very heavily implicate nations excluding the USA and Canada, and it might have been motivated in part by a smear campaign, propaganda. The information good nevertheless; although, I have not personally reviewed their original leak content. Cheers!
“In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.
The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes.”
- Süddeutsche Zeitung, Frederik Obermaier, Bastian Obermayer, Vanessa Wormer and Wolfgang Jaschensky
“The Panama Papers expose the internal operations of one of the world’s leading firms in incorporation of offshore entities, Panama-headquartered Mossack Fonseca. The 2.6 terabytes of data that make up the Panama Papers files were obtained by German newspaper Süddeutsche Zeitung and shared with ICIJ and more than 100 media partners.
The leak contains more than 11.5 million internal files of the company. It includes nearly 40 years of data, from 1977 through the end of 2015. The data contains a few incorporations before 1977, but they are sporadic and represent less than 1% of the companies. Although the data within the leak stretches back to 1977, Mossack Fonseca only came into being under its current name and structure in 1986, when Ramón Fonseca merged his small, one-secretary law firm in Panama with another local firm headed by Jürgen Mossack, a Panamanian of German origin.
The data shows that Mossack Fonseca worked with more than 14,000 banks, law firms, company incorporators and other middlemen to set up companies, foundations and trusts for customers. ICIJ used the country categorization contained in the leaked internal client database to describe how many intermediaries were in each country.
This internal database didn’t have a date for the closing of the companies. In the offshore world entities are hardly closed: they’re either inactivated or they stop paying fees and their status changes to what’s called “struck off” in the offshore lingo. ICIJ considered inactivation and struck off dates as the deactivation date of the companies. In the case of any discrepancy between the two dates, ICIJ used the one that happened first. A company was counted as active from the incorporation date until it was inactivated or struck off.
ICIJ will release the full list of companies and people linked to them in early May.”