1. Security
October 25, 2017updated 31 Oct 2017 3:55pm

Appleby leaks: offshore law firm will see details on super rich clients leaked following data breach

Information regarding high net worth individuals and international corporations are going to be leaked in the coming days after an off-shore law firm had its files stolen in a data breach.

Global law firm Appleby, which has its headquarters in Jersey and offices in Bermuda, has said it suffered a “security incident” and some of its data had been “compromised” in a 2016 cyber attack.

Appleby found out about the leaks after receiving inquiries from the International Consortium of Investigative Journalists over allegations involving its business and the business conducted by its clients.

According to The Daily Telegraph, details of the leak will be released by media organisations over the next few days.

What does Appleby, the hacked law firm, do?

Appleby was established in Bermuda in the late 1890s. The firm has since become of the world’s leading offshore law firms. It has offices in many offshore locations, including the Cayman Islands, Guernsey and the Isle of Man.

According to its website, it advises public and private companies, financial institutions and high net worth individuals.

Following the investigation, Appleby released a statement saying:

We take any allegation of wrongdoing, implicit or otherwise, extremely seriously. Appleby operates in highly regulated jurisdictions and like all professional organisations in our regions, we are subject to frequent regulatory checks and we are committed to achieving the high standards set by our regulators. We are also committed to the highest standards of client service and confidentiality. It is what we stand for. This commitment is unequivocal.

The firm says it has updated its cyber security arrangements following the breach. Applebys reported it is “confident that our data integrity is secure.”

Appleby leaks: Panama Papers take two?

When the Appleby leaks are published, it could follow the route that the Panama Papers took back in 2016. The offshore law firm, Mossack Fonseca, saw 11.5m files stolen from its database.  The details were given to major newspapers around the world by an anonymous source.

The files demonstrated how the super rich were exploiting offshore tax regimes. Celebrities, business leaders, and politicians were all implicated in the files, including the Russian president Vladimir Putin.

Last week, the journalist who led the Panama Papers investigation, Daphne Caruana Galizia, was killed in a car bomb near her home, in Malta.

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