11.5 million files.
2 terabytes of data.
200,000 off shore entities.
The biggest data leak ever
The Panama Papers, a massive leak of confidential documents from the Panamanian law firm Mossack Fonseca in 2016, involved an extensive investigation into offshore accounts and tax evasion. The leaked documents consisted of millions of files, including emails, financial spreadsheets, and other records. Calimere Point provided critical data analytics specifically matching account names - a robust and repeatable regulatory response – delivered fast.
The Data Picture
Superficially, matching a company’s client list (we call this the “Private List”) against the Panama Papers is a straightforward exercise.
However, a number of practical issues immediately become apparent once the data is examined. Both the Panama Papers and the Private Lists have their own data nuances. Critically, the data nuances may not be consistent within a given data set nor between the data sets.
The data needs to be normalised to ensure we are matching names on a consistent basis.
Industry: Financial Services - Wealth Management
Rule-based Analytics Application
Calimere Point developed an analytical application that contains a series of rules which addresses the nuances in the data, carries out a series of matching processes of differing strength and categorises such matches. The solution was reviewed by a Big Four Auditor, and classified as best-of-breed.