Panama City: It’s been a year since the Panama Papers burst on the scene. The scandal has rocked governments, exposed high-profile personalities, triggered scores of investigations around the world and dealt a blow to Panama as an offshore financial hub.
What are the Panama Papers? A trove of 11.5 million digital records from the Panamanian law firm Mossack Fonseca that revealed how many of the world’s wealthy used offshore companies to stash assets. The data were leaked to a German newspaper, Sueddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ), and reports appeared in major media from April 3, 2016. Revelations continue to trickle out.
What was the impact?
In the immediate aftermath, Iceland’s prime minister was forced to resign after the leak showed his family sheltered assets offshore.
Other people were exposed to scrutiny, including former British prime minister David Cameron, Argentina’s football