Further revelations in Panama Papers to be unveiled

The International Consortium of Investigative Journalists (ICIJ) will release on 9^th May (tomorrow) a new searchable database as part of the Panama Papers investigation.

This list will contain information on more than 200,000 offshore entities and will likely be the largest ever release of secret offshore companies and the people behind them.

Also this includes information about companies, trusts, foundations and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States involving people in more than 200 countries and territories.

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.

However, ICIJ won’t release personal data and such as bank accounts and financial transactions, emails and other correspondence, passports and telephone numbers in public interest.

The Panama Papers has lead to a furore in various countries around the world. It has lead to resignations of several world leaders such as Prime Minister of Iceland. British PM David Cameron also had to defend himself after the name of his father appeared in the list.

This has lead to enquiries and has put pressure on various world leaders including President Barrack Obama to take action on tax evasion and

A political crisis is still underway in Pakistan after the names of family members of Prime Minister Nawaz Sharif appeared in the list. The new list is also expected to make further relevations about their offshore dealings. Many new names including businessman and politicians are also expected to appear.