Panama papers leak – first impressions

What strikes me about the variety of political leaders and those close to them who use or have used offshore company Mossack Fonseca to hide great personal wealth from the eyes of the public and also perhaps their spouses.

Panama Papers. Mossack Fonseca

My first thought is this, who got hold of the information and leaked it. Probably we will never know for sure but it is interesting to note that neither the United States nor Israel are touched in any way by the release of these documents. When so many diverse countries around the world have ties to Mossack Fonseca at such a high level, it is unusual to find that nobody from the political level of either country has been using its services when so many others have. Also both countries often work together on hacking projects, so you can be sure that Mossack Fonseca had been guarding its data as strictly as possible, particularly as its business is built on trust. It would have required state level hacking to steal the information.

The second interesting thing to note is that it appears those in the released papers had at least a few days prior warning of what was to come. The first hint came in an article I read in the Moscow Times of March 28 stating Kremlin Says Journalists Preparing Hatchet Job on Putin adding, The questions involved information about the president’s family, his childhood friends, “businessmen Kovalchuk and Rotenberg, some offshore companies, entrepreneurs that Putin has never met,”  Then another article I didn’t understand at the time, as to why Putin would say this at this particular moment. Now becomes clear, as you can read from April 1, Putin Advises Journalists to Publish Their Income, Journalists Say ‘No, Thanks’, which stated “We recommend that media professionals and other workers whose professional activity is connected with the provision of public interest and attracting increased public attention, to publish information on their income, expenses, assets and property obligations on official websites or to publish the above information in mass media,”

This is just the first day of the release of these papers and the full repercussions are yet to be felt. What is clear is that those who have access to this financial information can access anybody, it doesn’t matter how rich you are. The Edward Snowden document leaks have had a huge impact on how we see privacy. The Panama Papers will be about who can really pull the strings of the super-rich. This is going to become interesting.

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