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The skyline of Panama City — a dense cluster of modern glass office towers along the Pacific coast, photographed from across the bay.
CONFIRMED

The Panama Papers

At approximately 6:00 p.m. Central European Time on Sunday, April 3, 2016, news organizations on six continents simultaneously published the first results of an 18-month coordinated investigation into 11.5 million leaked documents from a single Panama-based law firm. The firm was Mossack Fonseca. The documents — totaling 2.6 terabytes, the largest single data leak in journalism history at that time — exposed the operations of 214,488 offshore corporations and the identities of their ultimate owners. The owners included 12 sitting heads of state, 128 senior politicians and government officials, members of the inner circles of Vladimir Putin and the Saudi Royal Family, the families of Xi Jinping and David Cameron, the President of Iceland (who resigned within 48 hours), Lionel Messi, Pedro Almodóvar, and dozens of others. The leaking source — known only as 'John Doe' and never identified — had delivered the documents over a period of approximately 12 months to two reporters at the Munich newspaper *Süddeutsche Zeitung*. The investigation was coordinated by the International Consortium of Investigative Journalists (ICIJ), based in Washington, D.C. 376 reporters at more than 100 news organizations in 76 countries worked on the documents in shared secure infrastructure for the entire 18 months without any pre-publication leak. The story won the 2017 Pulitzer Prize for Explanatory Reporting and triggered approximately $1.36 billion in unpaid-tax recoveries by governments worldwide between 2016 and 2024.

Finance & Economy
2015-2016

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