Data leak reveals financial dealings

German newspaper Sueddeutsche Zeitung says it has obtained a vast trove of documents detailing the offshore financial dealings of the rich and famous.

Data leak reveals financial dealings

The Munich-based newspaper says it received the data, known as the Panama Papers, from an anonymous source more than a year ago and shared it with more than 100 news outlets.

Their work was co-ordinated by the International Consortium of Investigative Journalism, a non-profit organisation in Washington.

Sueddeutsche Zeitung said the amount of data it obtained is several times larger than a cache of offshore data published by WikiLeaks in 2013 that exposed the financial dealings of prominent individuals.

The files target associates of Russian president Vladimir Putin, Iceland’s prime minister, and people and companies banned by the US for dealings with drug cartels and rogue states.

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