Aussie Sphere

Panama Papers 2.0? ICIJ Threatens Second Data Dump


The International Consortium of Investigative Journalists said in an email that it is going to reveal a database containing information on about 200,000 offshore entities on May 9. According to ICIJ, the database is expected to be the largest ever revelation of classified information on offshore companies and the people involved in it as a part of the Panama Papers investigations.

“The searchable database will include information about more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States,” the ICIJ said in the email.

The data has been retrieved from the Panamanian law firm Mossack Fonseca. The law firm is one of the major players in creating offshore companies.

“When the data is released, users will be able to search through the data and visualise the networks around thousands of offshore entities, including, when possible, Mossack Fonseca’s internal records of the company’s true owners,” the ICIJ said in a statement. “The interactive database will also include information about more than 100,000 additional companies that were part of the 2013 ICIJ Offshore Leaks investigation.”

It added that the database that will be released will not be the original documents but a careful release of basic corporate information.

“The database will not include records of bank accounts and financial transactions, emails and other correspondence, passports and telephone numbers,” it said. “The selected and limited information is being published in the public interest.”

Earlier this month, over 11 million documents containing information on offshore tax havens were leaked to the German newspaper Suddeutsche Zeitung. The Panama Papers leak revealed how the world’s rich and the powerful avoided tax by investing in offshore companies.

The leak led to the ousting of Icelandic Prime Minister Sigmundur David Gunnlaugsson and Spain’s acting Industry Minister Jose Manuel Soria, the Business Insider reported.

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