Panama Papers (2016)
ScandalAbout
The Panama Papers scandal, unveiled in April 2016, was a massive leak of 11.5 million documents from Mossack Fonseca, a Panamanian law firm. These documents exposed how wealthy individuals, politicians, and business leaders used offshore tax havens to conceal assets and avoid taxes. The leak, facilitated by an anonymous source known as "John Doe," was reported by the German newspaper Süddeutsche Zeitung and analyzed by the International Consortium of Investigative Journalists (ICIJ). The revelations implicated 12 current or former heads of state and over 128 public officials from more than 200 countries. The scandal highlighted the use of shell companies for illegal activities like tax evasion, money laundering, and sanctions evasion. It led to significant political fallout, including the resignation of Iceland's Prime Minister Sigmundur Davíð Gunnlaugsson. The leak also prompted global calls for increased financial transparency and accountability. In response, several countries and international organizations implemented measures to combat tax evasion, such as beneficial ownership registers and enhanced reporting standards. The Panama Papers remain a landmark case in the fight against financial secrecy and corruption.
