PANAMA TIGHTENS UP ITS AML RULES, BUT UNDER-FUNDING OF ENFORCEMENT REMAINS A PROBLEM

PANAMA has been reforming its anti-money laundering (AML) regulations at a rapid rate as it tries to change perceptions of the country as a hub of money laundering and tax evasion. However, with serious loopholes remaining and grave doubts over its lack of investigative capacity, it remains some way from shedding its unwanted reputation. Panama emerged as a regional epicentre of money laundering due to a combination of factors ranging from its dollarised economy to the ease of gaining residency and setting up financial and commercial structures. However, two ...


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