Cryptoasset Anti-Financial Crime Specialist (CCAS) Certification Practice Test

What was the publication released by the International Consortium of Investigative Journalists in 2016 that exposed offshore companies?

1. Honduras Papers.

2. Venezuela Papers.

3. Nicaragua Papers.

4. Panama Papers.

The correct answer is: Panama Papers.

The publication released by the International Consortium of Investigative Journalists in 2016 that exposed a vast network of offshore companies is known as the Panama Papers. This investigative report revealed how wealthy individuals and public officials across the globe utilized offshore tax havens to conceal wealth and avoid taxes, leading to significant discussions about tax evasion, financial secrecy, and corruption. The leak consisted of 11.5 million documents from the Panamanian law firm Mossack Fonseca, highlighting specific cases of illicit financial activities and prompting international inquiries into the practices of various entities involved. The impact of the Panama Papers was substantial, resulting in resignations, policy reforms, and a global push for greater transparency in financial systems. Other options, such as the Honduras Papers, Venezuela Papers, and Nicaragua Papers, do not correspond to major investigations released by the International Consortium of Investigative Journalists in 2016, and thus do not reflect a similar level of global impact or recognition as the Panama Papers. This distinction emphasizes the importance of the Panama Papers in the context of exposing financial crime and the operations of offshore entities.