Panama Papers: 10 Fast Facts
The International Consortium of Investigative Journalists published a sampling of its findings from leaked documents hacked from Mossack Fonseca, a law firm in Panama. Financial documents show that those with power and privilege are among the regular clientele served by the firm’s offshore services. Here are 10 need-to-know facts about the “Panama Papers.”
- Panamanian law firm of Mossack Fonseca fell prey to the largest leak in offshore history.
- Panama is the 2nd highest ranked tax haven site after British Virgin Islands.
- Leaked information reveals that one of every two companies were incorporated in the British Virgin Islands.
- Company owners include politicians, billionaires, star athletes, drug smugglers, and mafia members.
- 2.6 terabytes of data were leaked.
- Over 500 banks created greater than 15,000 companies for their clients via Mossack Fonseca.
- Leaked documents span dates 1997 thru 2015.
- $2 billion in transactions were secretly shuffled by associates of Russian President Vladimir Putin.
- Documents detail greater than 214,000 offshore entities.
- People from more than 200 countries have been tied to the newly leaked offshore identities.
Find out more about the Panama Papers here. See graphic details on the Panama Papers here.
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