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April 28, 2016

The Panama Papers Incident Is Far From Over

Get ready, folks: The International Consortium of Investigative Journalists (ICIJ) is preparing to release a massive amount of information related to the recent “Panama Papers” data heist at law firm Mossack Fonseca.

The data dump will “likely be the largest-ever release of information about secret offshore companies and the people behind them, based on data from the Panama Papers investigation,” Business Insider reports on behalf of ICIJ.

“The searchable database will include information about more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States.”

As we discussed in a recent blog post, 2.6 terabytes—or about 11 million files—of information about secret offshore financial activities were transferred from an anonymous source at law firm Mossack Fonseca to German newspaper Suddeutsche Zeitung.

To date, the data breach has already led to the resignations of Icelandic Prime Minister Sigmundur David Gunnlaugsson and acting industry minister of Spain Jose Manuel Soria. Vladimir Putin and David Cameron are also in hot water for their supposed connections to offshore companies.

So if you thought the Mossack Fonseca data breach was over, think again. On May 9, the ICIJ will make a portion of the data public and will bring to light the private activities of some of the most powerful people and organizations in the world.

Don’t skim over this data dump as yet another cybersecurity incident. Use it as a gut check, and start asking questions in your organization. Where is your digital information being held? Is your network—or your vendor’s network—safe from prying eyes? Don’t wait for a notification letter informing you that your data has been stolen to take action.

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