The data, to be released by the International Consortium of Investigative Journalists – the same organisation that brought us the Lux Leaks, Swiss Leaks and Offshore Leaks – names hundreds of wealthy clients of Panama-based law firm Mossack Fonseca.

While merely appearing on the list does not necessarily indicate improper conduct or tax avoidance, The Australian Financial Review reports ​Chinese billionaires dominate the top ranks of the firm's Australian clients.

Some of the rich businessmen include Li Ka Shing, Thomas and Raymond Kwok, Hui Ka Yan and Liang Guangwei.

We can expect to see more Australian rich listers outed, but the ICIJ has said it will hold back some information.

What we won't get is personal data or records of bank accounts and financial transactions, emails and other correspondence, passports and telephone numbers.

"The selected and limited information is being published in the public interest," the organisation said on its website.

Nevertheless, the Panama Papers have already resulted in a global hunt for criminals and calls for greater transparency.

Global hunt underway

The data is based on more than 11.5 million documents – dating back to 1977 until as recently as December – that were leaked from the firm and given to German newspaper Süddeutsche Zeitung.

It includes information on 214,000 offshore entities and links to people in more than 200 countries and territories. It was shared with the ICIJ, which in turn has shared it with hundreds of media organisations around the world.

​Some of the Panama Papers' most explosive revelations include allegations that companies domiciled in tax havens are also being used for money laundering and arms and drug deals.

There have also been links to friends of world leaders, including Russian President Vladimir Putin, and relatives of British Prime Minister David Cameron and China's President Xi Jinping.

It has also had New Zealand Prime Minister John Key come out and dismiss concerns that international tax avoidance is rife there.

New Zealand's government is reviewing its foreign trust laws after the Panama Papers have highlighted a possible link in tax avoidance structures because New Zealand foreign trusts are not subject to tax.

The Panama Papers database includes 61,000 documents relating to New Zealand.

A joint report by Radio New Zealand, TVNZ and investigative journalist Nicky Hager says that, in 2013, Mossack Fonseca promoted New Zealand as a good place to do business due to its tax-free status, high levels of confidentiality and legal security.

Mossack Fonseca's main contact in New Zealand is allegedly Robert Thompson, co-founder and director of accountant firm Bentleys New Zealand, the registered office of Mossack Fonseca New Zealand, according to the report.

Mr Thompson is listed in more than 4,500 Panama paper documents, the report says.

Clients in 21 'tax havens'

The ICIJ's full interactive database will include information about companies, trusts, foundations and funds incorporated in 21 "tax havens" globally.

It will also include information on more than 100,000 additional companies that were part of the 2013 ICIJ Offshore Leaks investigation.

There are 143 politicians linked to the leaks, and the investigation has led to high-profile resignations, including Iceland's prime minister.

The Panama Papers have also resulted in action closer to home.

The Australian Taxation Office is investigating more than 800 wealthy clients of Mossack Fonseca. It has handed information relating to these taxpayers to AUSTRAC.

Australia's major banks have also been big players in the offshore world.

The Australian Financial Review has reported that ANZ appears in 7548 of the Mossack Fonseca documents, reflecting the bank's extensive work in New Zealand, the Cook Islands, Samoa and Jersey.

Westpac appears in 995 documents, the National Australia Bank in 261 documents and the Commonwealth Bank in 164 documents. Most of these are references to clients' bank accounts or reference letters written for their clients when they buy a Mossack Fonseca shelf company.

The ICIJ's full database will be published at https://offshoreleaks.icij.org

- with Reuters