ICIJ Pandora Papers Scandal Leaks 2021 An offshore data tsunami Special Transmission. Pandora Papers: A Tsunami Of Data On The High Seas Pandora Papers’ 11.9 Million Records Came From 14 Different Offshore Service Companies In A Hodgepodge Of Files And Formats, Including Ink On Paper, Posing A Huge Data Management Challenge. By Emilia Díaz-Struck, Delphine Reuter, Agustin Armendariz, Jelena Cosic, Jesús Escudero, Miguel Fiandor Gutiérrez, Mago Torres, Karrie Kehoe, Margot Williams, Denise Hassanzade Ajiri And Sean McGoey.
ICIJ Pandora Papers Scandal Leaks 2021
Spreadsheets made up 4% of the documents, or more than 467,000. The records also included slide shows and audio and video files. More than 4 million PDFs, more than 1.79 million Word documents, and other document formats. The Secret assets were uncovered by a global investigation based on 12 million files leaked to the International Consortium of Investigative Journalists (ICIJ), Which has been working with more than 140 media organizations worldwide.
What Are Pandora’s Papers?
The Pandora Papers Investigation Is The World’s Largest Journalistic Collaboration, Involving More Than 600 Journalists From 150 Media Outlets In 117 Countries. The Investigation Is Based On A Leak Of Confidential Records Of 14 Offshore Service Providers Who Provide Professional Services To Wealthy Individuals And Corporations Seeking To Incorporate Shell Companies, Trusts, Foundations And Other Entities In Low Or No Tax Jurisdictions. Entities Allow Owners To Hide Their Identities From The Public And Sometimes From Regulators. Providers Often Help Them Open Bank Accounts In Countries With Light Financial Regulation.
The 2.94 Terabytes Of Data, Leaked To The ICIJ And Shared With Media Partners Around The World, Arrived In Various Formats: Documents, Images, Emails, Spreadsheets And More. The Records Include An Unprecedented Amount Of Information On So-called Beneficial Owners Of Entities Registered In The British Virgin Islands, Seychelles, Hong Kong, Belize, Panama, South Dakota, And Other Secretive Jurisdictions. They Also Contain Information About The Shareholders, Directors, And Officers. In Addition To The Rich, The Famous, And The Infamous, Those Exposed By The Leak Include People Who Do Not Represent A Public Interest And Who Do Not Appear In Our Reports, Such As Small Business Owners, Doctors And Other, Generally Wealthy, People Away From The Community.
Public Attention. While Some Of The Files Date From The 1970s, Most Of Those Reviewed By The ICIJ Were Created Between 1996 And 2020. The Cover A Wide Range Of Subjects: The Creation Of Shell Companies, Foundations And Trusts; The Use Of Such Entities To Purchase Real Estate, Yachts, Jets And Life Insurance; Its Use To Make Investments And Move Money Between Bank Accounts; Estate Planning And Other Matters Related To Inheritance; And Tax Avoidance Through Complex Financial Schemes. Some Documents Are Linked To Financial Crimes, Including Money Laundering.
What’s in the Pandora Papers?
The More Than 330 Politicians Exposed By The Leak Were From More Than 90 Countries And Territories. They Used Entities In Secret Jurisdictions To Buy Real Estate, Hold Money In Trust, Own Other Businesses And Other Assets, Sometimes Anonymously. Pandora Papers Research Also Reveals How Banks And Law Firms Work Closely With Offshore Service Providers To Design Complex Corporate Structures.
The Records Show That Suppliers Do Not Always Know Their Customers, Despite Their Legal Obligation To Be Careful Not To Do Business With People Who Engage In Questionable Deals. The Research Also Reports On How US Trust Providers Have Taken Advantage Of The Laws Of Some States That Promote Secrecy And Help Wealthy Clients Abroad Hide Their Wealth To Avoid Taxes In Their Home Countries.
How is this leak different from others we’ve heard of?
The information in Pandora Papers (the 2.94 terabytes in more than 11.9 million records) comes from 14 providers that offer services in at least 38 jurisdictions. The 2016 Panama Papers investigation drew on 2.6 terabytes of data in 11.5 million documents from a single vendor, the now-defunct Mossack Fonseca law firm. The 2017 Paradise Papers investigation was based on a 1.4 terabyte leak in more than 13.4 million files from an offshore law firm, Appleby, as well as Asiaciti Trust, a Singapore-based provider, and records government corporations in 19 secret jurisdictions.