Following the Money: Lessons from the Panama Papers, Part 1: Tip of the Iceberg

Widely known as the Panama Papers, the world\u27s largest whistleblower case to date consists of 11.5 million documents and involves a year-long effort by the International Consortium of Investigative Journalists to expose a global pattern of crime and corruption where millions of documents capture heads of state, criminals, and celebrities using secret hideaways in tax havens. Involving the scrutiny of over 400 journalists worldwide, these documents reveal the offshore holdings of at least hundreds of politicians and public officials in over 200 countries. Since these disclosures became public, national security implications already include abrupt regime change and probable future political instability. It appears likely that important revelations obtained from these data will continue to be forthcoming for years to come. Presented here is Part 1 of what may ultimately constitute numerous-installment coverage of this important inquiry into the illicit wealth derived from bribery, corruption, and tax evasion. This article proceeds as follows. First, disclosures regarding the treasure trove of documents from the Panama-based law firm Mossack Fonseca are reviewed. Second is a discussion of the impact and cost of bribery and corruption to the global community. Third, I define and briefly explore issues surrounding tax evasion. Fourth, the impact of social media and technological change on transparency is discussed. Next, a few thoughts about implications for future research are offered