Data Hack of Panama Papers Reveals Global Corruption Ring

A server breach, which occurred 2015-beginning, targeted a Panama situated corporate law and consultancy company Mossack Fonseca. Those responsible for the leak stole a database sized 2.6 Terabytes containing more than 11.5m files that the company presented to Süddeutsche Zeitung a German newspaper for analysis.

Evidently it's clear from the gigantic data hack how there is an industry of large banks along with law companies at the global level that sells secret finance related information to drug traffickers, fraudsters, even politicians along with sport stars, celebrities and billionaires.

An anonymous entity behind the leak shared the stolen database with ICIJ (International Consortium of Investigative Journalists) that arranged for a probe by worldwide news agencies.

The documents repository contains customer records of 40-yrs back, banking information and e-mails, while shows the internal work materials of a law company well-known towards maintaining secrecy. Abc.net posted this, April 4, 2016.

Comparing with a few past data breaches, a security breach of 2-3TB size is somewhat small. For e.g., a document of National Security Agency which Snowden exposed online shows that during 2007 Web attackers from China stole 50TB scaled exclusive data belonging to USA's military, especially the F-32 Joint Strike Fighter's design plans. Similarly within the Sony breach, North Korea's hacker gang namely 'Guardian of Peace' leaked data sized 200GB while asserted to have seized an aggregate of 100TB.

It may now be asked what amount of matter lies within the 2.6TB sized data from the Panama Papers. Meanwhile, the Snowden leakage, although far smaller so far as absolute data size is concerned, it keeps on generating news as well as revelations 3-yrs since its first exposure. However, no matter what the longevity is, Süddeutsche Zeitung's precious collection very lucidly reminds that there is a continuous increase in data leakages in terms of scale.

Yet again, opening accounts abroad isn't as such unlawful, and Mossack Fonseca just repeated that it did no wrong, as well as that it had actually been victimized within the above situation. Moreover, it's still unclear as to what source has been behind the official papers' leakage to ICIJ.

» SPAMfighter News - 4/11/2016