A task force of investigative journalists examining millions of Panama Papers documents are to put a searchable database online within a few days.
The database will let anyone search the 11.5 million documents leaked from Panama law firm Mossack Fonseca for details relating to more than 200,000 offshore companies and trusts.
They claim the online data is the biggest release of information about formerly secret activities of people from around the world trying to draw a veil over their finances.
However, the International Consortium of Investigative Journalists confirms they are not dumping raw data but carefully selecting the release information.
The ICIJ clarified that the papers are being redacted to remove information such as bank account numbers, emails, passport details and telephone numbers.
Police and tax investigations blocked
The group also confirms that journalists around the world are ready to reveal stories about alleged tax avoidance, money laundering and other criminal activities tied to the network of offshore companies.
So far, the Panama Papers have uncovered the secret offshore tax and financial transactions of world leaders, politicians and other leading celebrities – including British Prime Minister David Cameron and Russian President Vladimir Putin.
Some have resigned and several criminal investigations have been triggered in the USA, UK and other countries.
However, HM Revenue and Customs (HMRC) in Britain claims the ICIJ is blocking the investigations because a request to release documents from the Panama Papers implicating British tax payers in alleged crimes have not been released.
Official request for evidence ignored
“We have put an official request in to the ICIJ for this information,” said an HMRC spokesman.
“However, after a couple of weeks we have had no response and although the police and Serious Fraud Office are standing by to work with us, the investigation is on hold until we have the data to work from.”
US president Barack Obama summed up official feeling about the revelations.
“It’s not that some of these people are breaking the law, it’s more to do that the laws are so poorly written that people can easily work out ways of conducting their business offshore without seemingly committing crimes.
The database will be accessible from the ICIJ online from May 9, 2016