On Tuesday, a co-founder of Mossack Fonseca, the Panamanian firm that experienced a massive breach of 11.5 million documents that revealed the practices the firm employed to help its ultra high-net-worth clients and family offices shield assets from taxation.
The firm’s co-founder Ramon Fonseca told Reuters that the firm filed complaints with the Attorney General’s office in Panama. “We rule out an inside job. This is not a leak. This is a hack,” he said on Tuesday.
In a separate interview, Fonseca told the Associated Press that the firm, a specialist in helping the ultra-wealthy set up offshore companies, was hacked from Europe.
The volume of data in the files, referred to as the Panama Papers, has created a stir in the information security industry. “Traditional security monitoring systems should have caught something that big,” wrote Inspired eLearning cyber security advisor Tyler Cohen Wood, in an email to SCMagazine.com. “In my opinion, this was either an inside job or they didn’t implement proper security measures to detect that activity.” For the full article click here
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