The biggest leak of financial information in history alleges a number of world leaders and celebrities are implicated in hiding wealth in offshore accounts.

The so-called Panama Papers are part of a leak of 11 million files from the database of Mossack Fonseca, the world's fourth-largest offshore law firm.

According to The Guardian, one of the media organisations receiving the leaked documents, the papers implicate a key member of FIFA's powerful ethics committee, Pakistan's prime minister, president of Ukraine Petro Poroshenko, Alaa Mubarak, son of Egypt's former president; and the prime minister of Iceland.

The document leak comes from the records of the firm, which was founded in 1977, and reveal how the rich and powerful use secret offshore tax havens to get around the law.

They reportedly show how the Panamanian law firm helped clients launder money, dodge sanctions and evade tax.