Panama Leaks

What is Panama Leak?

The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The documents, some of which dated back to the 1970s, belonged to the Panamanian law firm and corporate service provider Mossack Fonseca,were leaked in 2015 by an anonymous source.

The documents contain personal financial information about wealthy individuals and public officials that had previously been kept private.While offshore business entities are legal, reporters found that some of the Mossack Fonseca shell corporations were used for illegal purposes, including fraud, tax evasion, and evading international sanctions.
Impact

1. Iceland PM steps down
Source: https://www.theguardian.com/world/2016/apr/05/iceland-prime-minister-resigns-over-panama-papers-revelations

2. Nawaz Sharif disqualified by Suprement Court due to not providing complete details on wealth
Source: http://www.bbc.com/news/world-asia-36092356


3. India : None No progress reported 1 year gone.

On 14 April 2016: Indian prime minister Narendra Modi ordered an inquiry, and subsequently the Indian government announced that it was constituting a special multi-agency group comprising officers from the investigative unit of the Central Board of Direct Taxes and its Foreign Tax and Tax Research Division, the Financial Intelligence Unit and the Reserve Bank of India.

So when Indian Prime Minister is not able to start an investigation with all documents available as evidence. I have huge doubts on his sincerity to attack corruption.