April 3rd 2016 saw the advent of an unprecedented international revelation when Munich-based newspaper Süddeutsche Zeitung published information regarding the “Panama Papers” in conjunction with the International Consortium of Investigative Journalists (ICIJ) located in Washington, DC. These papers are a data breach of 11.5 million confidential files compiled by Mossack Fonseca, the world’s fourth largest offshore law firm, which was founded in 1986 and is based in Panama City, Panama. The files contain data regarding more than 214,000 offshore companies. These data demonstrate how wealthy and/or powerful individuals in various countries have, until now, hidden their assets from their fellow citizens’ and governments’ view.
May 5, 2016 - Stuart Feltis