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Abstract
A massive law firm data breach of otherwise secretive financial information identifying numerous high-ranking government and public officials around the world was recently disclosed online by the International Consortium of Investigative Journalists. Almost 40 years of confidential information from 1977 to December 2015 was somehow obtained by an anonymous source from the internal database of Panama-based law firm Mossack Fonseca & Co and apparently includes approximately 11.46 million files comprising approximately 2.6 terabytes of otherwise confidential financial data. The Panama Papers link up direct and indirect offshore holdings of some 140 current and former world leaders, politicians, public officials and others, disclosing a day-to-day, decade-by-decade look at how funds flowed through the global financial system. An offshore company can be a logical, legitimate decision for various international business transactions. Mossack Fonseca & Co, a leading international company with a presence in over 40 countries and with close to 40 years of history in the legal industry, is well recognized in international business transactions.