Translated text:
The Ministry of Economy and Finance (MEF) is working on a draft law on the prevention of money laundering to Panama to adjust to the new recommendations of the Financial Action Task Force (FATF), said Julio Aguirre, president of the XVI Congress Hemispheric Money Laundering and Combating the Financing of Terrorism, which opened yesterday. The new standard complement Law 42 October 2000 laying down measures for the prevention of money laundering and terrorist financing and include the 40 recommendations given by the FATF in February. Though reduced in numbers, before they were 49, the FATF included topics such as financing strategies against weapons of mass destruction, tax crimes and corruption. regard, Aguirre said that tax evasion be serious?? evaluated ‘in the Panamanian Penal Code, as companies repeatedly incurred in the absence be penalized.
According to the Department of Revenue (DGI), annually about 50 million left to go into the coffers of state because of tax evasion. far, the new bill is being discussed in the MEF and is expected that next year will be presented to the National Assembly. Approximately 750 officers of banks, financial companies, law firms attorneys, insurers, public officials, among others, discussed until Friday techniques to prevent money laundering. According to experts, the practices of money laundering in Panama increases the pace of development of its economy, which requires greater vigilance financial institutions. No information is available about the number of cases. Isabel Perez, Compliance Officer Banco Latinoamericano de Comercio Exterior (Bladex) said.
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