Lehren

What is Paradise Paper Leak and from where did it all start?

How conspiring is the world's second-biggest paper leak? Where did it all start? Read on to know.

Paradise Paper Leak What is Paradise Paper Leak and from where did it all start? Source : Press

The release of the Paradise Papers is all set to shake the financial and political system at a global and world level. The leak of a document trove, about 13.6-million strong has increased the tension in the countries all around the world.

It's been said that a source leaked the information to German newspaper, Sueddeutsche Zeitung, which shared the same with other news organizations, involving the International Consortium of Investigative Journalists (ICIJ) The documents in light belong to a law firm in Bermuda, Appleby which deals in offshore accounts which are used to conceal money, thus saving taxes.

From a time range of 1950 to 2016, it involves details of various corporate registries maintained supervised by the governments in jurisdictions like the Malta, Bermuda, Bahamas, Aruba, etc. About 381 journalists from 76 nations and 96 media partners are investigating the papers which involve over 120 politicians and world leaders.

The Paradise Papers leak is world's second-biggest data leak at 1.4 TB, after Panama Papers which had a volume of 2.6TB. It also involves more than 714 Indian companies and individuals.

Some other revelations made by the Paper leak are:-

Offshore secrets - 260 GB

Luxembourg tax files - 4.4 GB

HSBC files - 3.3 GB

WikiLeaks - 1.7GB


You may also like