The Panama Papers brought the issue of illicit financial flows (IFF) to the heart of public and political debate. According to this report the Panama Papers constitute a massive leak of 11.5 million documents which are related to the law firm Mossack Fonseca based in Panama.The docu-ments reveal how the Panamanian law firm Mossack Fonseca facilitated the creation of about 214.000 anonymous shelf companies. The volume of the Panama Papers exceeds the combined total of the Wikileaks Cablegate, Offshore Leaks, Lux Leaks, and Swiss Leaks, and has important implications for development cooperation. A holistic approach is needed to address the various dimensions of IFF.
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