The International Consortium of Investigative Journalists and partner media published the Panama Papers, a leak of around 11.5 million documents from Panamanian law firm Mossack Fonseca. The files detailed offshore companies linked to politicians, public officials, and celebrities around the world.
What happened
- The data, around 2.6 terabytes, was leaked by an anonymous source to German newspaper Süddeutsche Zeitung and shared with journalists worldwide.
- Coordinated reporting began on 3 April 2016 across more than 100 media organisations.
- Iceland’s prime minister resigned within days, and tax authorities in many countries opened investigations.
- Mossack Fonseca said it had been the victim of a hack, and the firm later closed in 2018.
Why it mattered
It was then the largest data leak in journalism history, and it showed how a single breach at a professional services firm could expose thousands of clients.
Lessons for organisations
Firms that hold sensitive client data should treat it as a prime target, keeping systems patched, restricting access, and encrypting sensitive records. Frameworks such as ISO/IEC 27001 help structure these controls. Legal and financial firms should also assume that a leak of client files could become public on a global scale.
Source: ICIJ
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