Panama Papers - biggest leak of financial data in history

The biggest leak of financial data in history has revealed how 12 current or former world leaders, the global rich and a host of celebrities are allegedly using offshore tax havens to hide their wealth

A host of celebrities, British politicians and the global rich are all implicated in the so-called Panama Papers - a leak of 11million files which contain more data than the amount stolen by former CIA contractor Edward Snowden in 2013.

Documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca, and show how the company has allegedly helped clients launder money, dodge sanctions and evade tax.

The offshore accounts are based on documents from a law firm named Mossack Fonseca, which is in Panama. It has described the release of information as "an international campaign against privacy"

But not all offshore dealings are illegal. Companies or trusts can be set up in offshore law-tax places like Panama for legitimate uses such as business finance, mergers and acquisitions and estate or tax planning.

World's Top Leaders and Rich Personalities Exposed

According to ICIJ, the leaked documents range from 1977 to December 2015 and include details on 214,000 offshore shell companies with links to 140 politicians including the President of Argentina, the King of Saudi Arabia and Prime Minister of Iceland.

11million financial documents have been leaked from Panamanian law firm 

Show how world's rich and powerful use offshore tax havens to hide wealth

Twelve current or former world leaders implicated along with UK politicians

Russian president Vladimir Putin's friends appear to have earned millions

Leak is bigger than the amount of data stolen by Edward Snowden in 2013

12 NATIONAL LEADERS WHO WERE NAMED IN THE DATA LEAK 

1. President of Argentina Mauricio Macri

2. King of Saudi Arabia King Salman bin Abdulaziz bin Abdulrahman Al Saud

3. President of Ukraine Petro Poroshenko

4. Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson  

5. UAE President Khalifa bin Zayed bin Sultan Al Nahyan

6. Former prime minister of Georgia Bidzina Ivanishvili 

7. Ex-prime minister of Iraq Ayad Allawi

8. Former prime minister of Jordan Ali Abu al-Ragheb

9. Former prime minister of Qatar Hamad bin Jassim bin Jaber Al Thani

10. Former Emir of Qatar Sheikh Hamad bin Khalifa Al Thani

11. Former president of Sudan Ahmad Ali al-Mirghani

12. Convicted former Ukraine prime minister Pavlo Lazarenko