The offshore leaks known as the Pandora Papers show that Hungay has been promoted to service providers as the new Cyprus or Malta. A lawyer wrote that Hungary can give an “onfshore face” to offshore companies.

Nearly 12 million confidential documents were leaked about secret offshore companies, investigated by the world’s largest international collaboration of journalists. Direkt36 was also part of the project and revealed that influential Hungarian pro-government figures including Balázs Kertész and Gellért Jászai also had offshore interests.

Suspicious transactions have been routinely moved through the Hungarian banking system, Direkt36 has revealed as part of the the global FinCENFiles investigation.

According to an internal document obtained by Direkt36 the state-owned Eximbank identified several risks related to a Budapest real estate development project. Nevertheless, it decided to financially support it with a loan worth millions of euros.

The so-called Eclipse scandal was one of the biggest corruption cases of the last two decades in Hungary. The new Panama Papers now reveal that a businessman with extensive connections to the government signed a consultancy contract with Eclipse through an offshore company.

A businessman involved in the controversial Hungarian residence program told Mossack Fonseca that he believes the Chinese government is behind one of the companies running the scheme.

Árpád Habony is the sole shareholder of the firm, which chose exactly that secretary that also works for the local residency bond company. After an exclusive helicopter tour and a trip in a private jet, here is the new Hong Kong connection.

Paradise Papers revealed that hundreds of Hungarians do business in Malta. Many of them have political ties, including the ex-leaders of a company that prepares Hungary’s power plant expansion project, a former treasurer of Ferenc Gyurcsany’s socialist government and sport entrepreneurs connected to far-fight Jobbik.

The Paradise Papers project has revealed the links of a top Hungarian diplomat’s ties to a wealthy family and showed the former offshore interests of a businessman close to the government.

The Panama Papers project had huge impact around the world but the Hungarian authorities appear to have done little so far to look into the local findings.