An international effort by over 100 media organizations to expose the illicit financial activities of some of the world's most prominent individuals and organizations created waves on Sunday evening, as the effects of the 11.5 million leaked documents from a relatively unknown Panamanian law firm began to ripple around the world.
The files reveal the offshore holdings 140 politicians from around the world, including 11 heads of state. The effects of the financial activities are allegedly aimed at illegal activity such as tax fraud, money laundering and sanctions evasion.
According to the "Panama Papers" website, more than 214,000 offshore entities appear in the leak, connected to people in more than 200 countries and territories. Haaretz reported on Sunday that Israeli banks and citizens are among those implicated.