It was the Wikileaks, which couple of years ago shook the world politics with some really secret revelations that changed the global political scenario. Similar kind of revelations; but much more on the larger scale and in fact considered the largest largest data leak in the history are the panama Leaks. These leaks have certainly engulfed the global political atmosphere, and almost all the political tycoons around the world; having some sort of offshore companies have been named in these papers.
The story began when German newspaper Suddeutsche Zeitung first published report on these papers on 3 April 2016 and it began viral more than any major music hit recently. These leaks are the major hack of an anonymous person who then provided to Panama paper investigative journalists Bastian Obermayer and Fredrick Obermaier. From there it was compiled all together and first published in the German daily and then reached International Consortium of International journalists (ICIJ), who then further provided these paper to international media firms, Guardian and BBC. The ISIJ is planning to release the list of all the companies involved in early May.
Panama, a country of just over 3,929,000 population would never have been this much notable then it has become soon after the release of these papers. Mossack Fonseca is a law firm based in Panama city from where these secret files have been leaked. British Virgin Islands is the country where the majority of these offshore firms are established. BVI itself apart from its beaches would also have not been this much popular as it has gained in the past few weeks.
Mossack Fonseca helped in hiding the assets of the high profile political and business figures as well as celebrities. These high profile figures include: UAE President Al Nahyan, President of Ukraine Poroschenko, King, Salman of Saudi Arabia, PM Iceland Gunnlaugsson and Russian President Viladimr Putin. There have been also named the relatives of David Cameron, Nawaz Sharif, Xi Jinping, Najib Razak and Jacob Zuma. Also Kofi Annan, former UN Secretary General’s has been linked to these hidden wealth made through indirect fraudulent methods.
The impact of Panama papers of so immense that Iceland’s Prime Minster Sigmunduer Davio Gunnlaugsson resigned soon after the release of these papers, followed by the Spanish Minister for Industry Jose Manuel Soria. It is expected that in the coming weeks more resignations could also be given as the pressure is surging on these personalities. The leaks have even opened the hidden financial assets of sports celebrities such as Lionel Messi. UEFA’s office has also been searched in this follow up.
Mass protests have also started all around the globe soon after these papers came into the main stream, the resignations came as a result of these mega protests. It is certainly quite important that the collaboration of International media played a vital role in the wide spread of these papers all over the globe from Germany to UK, France, Tunisia, Korea and far beyond. The news spread like a firm in the jungle and still there are many more upcoming consequences which have to be bore by the culprits.