Panama Papers are almost a set of 11.5 million documents that were leaked privately. This study contributes to the impact that media poses in changing the opinion of individuals over issues, events or news. The information was collected through survey methodology in which the researcher divided the University students into 5 categories from whom the information was collected; these categories included Arts, Natural Science, Engineering, Agriculture and Social Science. The sample selected for the research was 300 respondents from these categories, and 60 students were chosen through Systematic sampling from every category from whom the information was collected; the study findings show that most of the students of Bahauddin Zakariya University were familiar with the Panama leaks issue and got to know about it through social media. The study also finds that among the students who are aware of Panama leaks, many of them believe in the credibility and veracity of the issue. In this study, the Pearson Chi-squared test indicates there is a correlation between people perception about the veracity of Panama Leaks and their trust in the explanation provided by the Shareef family.