Panama law firm to take legal action against reporters

The law firm at the centre of the Panama Papers leak has said it will take legal action against journalists who broke the story.

Mossack Fonseca said in a statement it had asked the International Consortium of Investigative Journalists to stop publishing information it says were obtained through a computer hack.

Millions of documents - now known as the Panama Papers - are in the public domain after being published online.

The PM has said he did not benefit from accounts his late father had held. Credit: PA

They contain the names of world leaders, politicians, celebrities and even Mafia members and are said to detail 'how the rich hide their money'.

Prime Minister David Cameron was linked to the scandal over accounts his late father held.

WhileIcelandic Prime Minister Sigmundur David Gunnlaugsson stepped down after the papers showed his wife had links to collapsed banks in the country.

Emma Watson claims she set up an offshore company for privacy rather than tax reasons Credit: Reuters

British actress Emma Watson is the latest celebrity to be named in the papers after more information was leaked this week.

Police have since raided the offices of Mossack Fonseca in Panama but the firm continue to claim it has not broken any laws.

It says it addition to the data being obtained illegally, it is also full of errors.