Paradise Papers Leak, What You Should Know

Paradise papers is the worlds second-largest financial data leak, at 1.4 TB, following last year’s Panama papers, which included 2.6 TB of sensitive information. This time, the documents, covering the period from 1950 to 2016, belong to a law firm and corporate services provider that operates under the name Appleby.

The leaks were obtained by German newspaper Süddeutsche Zeitung, which was also responsible for the Panama papers leak in 2016. The newspaper shared the data with the International Consortium of Investigative Journalists, an organization that organizes global collaboration.

Within the International Consortium of Investigative Journalists, there are 96 media partners, with a total of 381 journalists analyzing the data worldwide.

Paradise papers expose both companies and individuals. Apple, Nike, and Facebook are among the companies mentioned. And on the individual bases: the Queen, stars of British sitcoms, and Canadian politicians.

The papers even touch US President Donald Trump, revealing businesses with Vladimir Putin’s son-in-law. The Guardian posted:

Donald Trump’s commerce secretary, Wilbur Ross, is doing business with Vladimir Putin’s son-in-law through a shipping venture in Russia.

Leaked documents and public filings show Ross holds a stake in a shipping company, Navigator, through a chain of offshore investments. Navigator operates a lucrative partnership with Sibur, a Russian gas company part-owned by Kirill Shamalov, the husband of Putin’s daughter Katerina Tikhonova.

According to the Guardian:

Two Russian state institutions with close ties to Vladimir Putin funded substantial investments in Twitter and Facebook through a business associate of Jared Kushner, leaked documents reveal.

The investments were made through a Russian technology magnate, Yuri Milner, who also holds a stake in a company co-owned by Kushner, Donald Trump’s son-in-law and senior White House adviser.

According to the papers, Russian-state-controlled bank VTB Bank invested $191m in Twitter and a financial arm in the Russian oil and gas firm Gazprom funded a vechicle that held $1bn-worth of Facebook share.

We are sure that more news will arrive as journalists around the world continue to investigate the leaked data.

Mohamad El Hout, MBA, M.Eng., CISSP

Mohamad is an entrepreneur and a Senior Security Consultant dealing with the design and delivery of standard and complex security gateway solutions, covering a wide range of cutting edge technologies. His interests include business, technology, leadership, sports, and the continuous pursuit of knowledge.

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