PANAMA CITY: The law firm at the centre of the Panama Papers scandal says it is filing suit against the International Consortium of Investigative Journalists (ICIJ) for the leak of information it says is false.

The public gained its first access to the Panama Papers records of over 200,000 secret offshore companies when the ICIJ put a searchable database online earlier Monday.

The database, built on just a portion of the 11.5 million documents leaked from Panama's Mossack Fonseca law firm, reveals more than 360,000 names of individuals and companies behind the anonymous shell firms, the ICIJ said.

The law firm urged the ICIJ to cease and desist prior to the leak online, but it moved ahead with the release.

“The Consortium has forced us to start aggressive legal action to protect ourselves from acts such as these, which, since they are crimes, must be taken to the proper bodies for due process,” the company said in a statement released on Tuesday.

The Panama Papers reveal the full extent to which the world's wealthy, alongside criminals, create nominee companies to stash and transfer assets out of sight of the law and tax officials.

Reports already published in April based on the explosive dossier linked some of the world's most powerful leaders, including Russian President Vladimir Putin, British Prime Minister David Cameron and others to unreported offshore companies.

The new database can be searched by individual and company name and address, and shows links between those in the records.

But it gives no information — beyond their name — on the full identities of those behind the companies, nor of the underlying assets linked to the accounts.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.