A searchable database of the so-called Panama Papers — a massive trove of data exposing thousands of wealthy users of offshore tax havens — is now live online.
{mosads}The 11.5 million documents, leaked by an unknown source from a Panama law firm, link more than 200,000 shell companies and 14,000 clients to the use of tax havens.
According to the International Consortium of Investigative Journalists (ICIJ) — which up until now has had sole access to the documents — the database reveals the names of the real owners of many of the exposed shell companies.
Not all of the 11.5 million documents have been published, however. The database that went live on Monday reveals a total of 360,000 names of people and companies, but ICIJ “is not disclosing raw documents or personal information en masse.”
The breached law firm, Mossack Fonseca, specializes in creating and running offshore entities for companies and individuals around the world. These entities are often used to conceal wealth and evade taxes. Reporting based on the documents caused swift fallout for exposed clients across the globe — including the resignation of Iceland’s prime minister.
Mossack Fonseca, which says it was hacked, issued a cease-and-desist order on Thursday to the journalist group, saying putting up the information publicly would violate attorney-client privilege.
But the ICIJ says it is important the public be able to see the information.
“ICIJ is publishing the information in the public interest,” the organization wrote in a Monday blog post. “The Panama Papers underscore the fundamental injustices and inequalities created by the offshore system, media commentators and political leaders say.”