A group of the world's investigative journalists have caused a stir after releasing information exposing the global elite for corruption, tax evasion and money laundering.
The International Consortium of Investigative Journalists (ICIJ) deciphered over 11 million documents from a Panama-based law firm, Mossack Fonseca, revealing a network of clients using secret offshore accounts as tax shelters.
ICIJ Director Gerard Ryle explains that the so-called Panama Papers are 40 years worth of company records, from 1977 until December 2015.
12 former and current world leaders, 140 politicians and their associates as well as several celebrities and sporting icons have been implicated.
Ryle says that one of the ICIJ's German journalists received an anonymous contact from someone offering the data.
The ICIJ has been doing work on tax havens for more than three years and have done a series of revelations into how tax havens work... It started as a trickle then turned into a flood.— Gerard Ryle, Director of the International Consortium of Investigative Journalists