Overview
A company's worst nightmare is where documents have been
leaked and clients' confidential information has been exposed
for all to see. Just recently, this nightmare became a reality for
Mossack Fonseca & Co, a business providing legal and trust
services based in the Republic of Panama. As reported by the media,
11.5 million documents detailing confidential transactions
involving their clients were leaked. Creating an enormous frenzy,
these infamous documents are now being referred to as the
Panama Papers. Although the source of the leak is said to
have come from an anonymous source that sent an email to a German
newspaper, how that source came into contact with information is
still unknown. Regardless of whether criminal charges are filed in
conjunction with the Panama Papers, the breach will have a
significant impact on the company's reputation. Most likely,
the business will face civil liability as a result of the
disclosure of the confidential information.
