Israeli Banks, Citizens Among Those Implicated in Offshore Corruption Scandal

The Jerusalem Post reports: An international effort by over 100 media organizations to expose the illicit financial activities of some of the world’s most prominent individuals and organizations created waves on Sunday evening, as the effects of the 11.5 million leaked documents from a relatively unknown Panamanian law firm began to ripple around the world.

German newspaper Suddeutsche Zeitung said it received a cache of 11.5 million leaked documents from the law firm’s database, and shared them with more than 100 other international news outlets as well as the International Consortium of Investigative Journalists (ICIJ).

The files reveal the offshore holdings 140 politicians from around the world, including 11 heads of state. The effects of the financial activities are allegedly aimed at illegal activity such as tax fraud, money laundering and sanctions evasion.

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