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​Panama Papers Part 2: The world's dirty laundry becomes searchable

The first round of leaked documents brought the murky financial practices of the world's elite to light. Now the "largest ever" release of secret corporate information will be searchable.

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One of the world's biggest data leaks is about to become searchable.

Wavebreak Media Ltd./Corbis

It might be too early for the world's rich and powerful to put their lawyers back in storage, with news that the world is about to see round two of the Panama Papers. And this time, they'll be searchable.

The Panama Papers label refers to more than 11 million legal and financial records of the world's power elite taken from Panama-based law firm Mossack Fonseca.

The International Consortium of Investigative Journalists, a German newspaper and other news groups spent more than a year sifting through these records, and earlier this month published documents exposing the tax shelters of 140 politicians and public figures, including Russian President Vladimir Putin, Icelandic government officials and beleaguered soccer organization FIFA.

Now the ICIJ has announced that it will be dumping a second batch of documents regarding hundreds of thousands of offshore entities as part of its ongoing Panama Papers investigation.

The new raft of documents will be released on May 9, with basic corporate information on more than 200,000 offshore entities made available in a searchable database.

While the ICIJ says round two won't include a "data dump" of the original documents or the large-scale release of personal data, it has said the next phase "will likely be the largest ever release of secret offshore companies and the people behind them."