The data leaked from Credit Suisse, an investment banking firm registered in Switzerland, shows several prominent politicians and generals, including the former ISI chief, General Akhtar Abdur Rahman Khan.
Khan is accused of funneling billions of dollars in cash and other assistance from the United States and other countries to support the mujahedeen in Afghanistan in their fight against the Soviet Union, according to a report published by The New York Times.
In response to Russia's presence in Afghanistan, the Saudis and the US funded mujahideen fighters through the American Central Intelligence Agency (CIA) Swiss bank account, according to a report by the Organized Crime and Corruption Reporting Project (OCCRP).
"The end recipient in the process was Pakistan's Inter-Services Intelligence group (ISI), [at the time] led by Akhtar," the publication quoting the report said.
Newspaper The News International reported that Pakistani accounts held an average balance of 4.42 million Swiss francs.
Additionally, the Pakistani newspaper reported that several politically exposed individuals failed to disclose these accounts they opened when they held public office in their asset declarations submitted to the Pakistani election commission.
The latest leaks follow the so-called Panama Papers in 2016, the Paradise Papers in 2017 and the Pandora Papers of last year. A self-described whistle-blower leaked data on more than 18,000 bank accounts, collectively holding more than $100 billion, to the German newspaper Suddeutsche Zeitung, reported The New York Times.
Further revelations are expected in the upcoming days, as more information about the leak becomes public.
Earlier in January, Pakistan ranked 140 out of 180 on Corruption Perception Index (CPI) 2021 by Transparency International, losing 16 spots over the previous year.