Mossak Fonseca “has now become a poster child for the shortcomings of widely relied upon security solutions,” wrote Seclore chief executive Vishal Gupta, in an email to SCMagazine.com. “Unless data-centric security solutions capable of persistently controlling use of documents are in place, there is very little likelihood Mossak Fonseca, or any data breach victim, can remediate the damage done from this incident.”
According to Wikipedia, the leak has resulted in the release of 11.5 million confidential documents. These files provide detailed information about legal and financial dealings of more than 214,000 offshore companies listed by Mossack Fonseca, a Panamanian law firm and corporate service provider. The scale of the breach and the contents of the secret documents has implicated high profile individuals and corporations in the use of complex company structures to avoid taxes, launder money and circumvent financial sanctions.
On 6 April 2016 Ramon Fonseca, a partner at Mossak Fonseca, stated that the leak was not the outcome of an ‘internal job’ but was the result of a hack traced to servers located abroad.
In late March/ early April the company reportedly sent an email to its clients saying the security of its files had been compromised after “an unauthorised breach of our email server”.