More Panama Papers revelations are on their way

Details of more than 200,000 secret offshore entities and the people behind them will soon be revealed in a searchable database, according to the investigative journalists behind the Panama Papers revelations.

The International Consortium of Investigative Journalists (ICIJ) said it plans to release what is "likely to be the largest ever" revelation of its kind.

In an article posted on the ICIJ said: "The Panama Papers investigation revealed the secret offshore dealings of world leaders and other politicians as well as criminals and celebrities. It exposed the role of big banks in facilitating secrecy and tax evasion and avoidance.

"Since its release, the Panama Papers investigation has led to high profile resignations, including the prime minister of Iceland; triggered official inquiries in multiple countries; and put pressure on world leaders and other politicians, such as Britain's Prime Minister David Cameron, to explain their connections to offshore companies."

David Cameron makes a statement to the House of Commons over his personal finances (PA)
David Cameron makes a statement to the House of Commons over his personal finances (PA)

The new release will use more data from the Panamanian law firm Mossack Fonseca and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States. It links to people in more than 200 countries and territories.

Users of the database will be able to search the networks around the entities and find the companies' true owners.

The ICIJ added: "While the database opens up a world that has never been revealed on such a massive scale, the application will not be a 'data dump' of the original documents -- it will be a careful release of basic corporate information."

No personal information, bank accounts, financial transactions, correspondences, passports or telephone numbers will be published but what will be, the ICIJ said, is in the public interest.

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