According to an article in La Prensa, Panama is rated just behind the U.S. in compliance with money laundering regulations.
The enforcement staff report conducted by the Financial Action Task Force (FATF), based on a review of compliance with its 40 recommendations for the prevention of money laundering, plus nine special recommendations on terrorist financing, remains to Panama between top with best rating.
The report, which summarizes the evaluations of FATF since 2005 and is updated the first quarter of 2009, noted that Panama stands fourth in the list of 44 countries and jurisdictions participating in the evaluation, with only below States USA, Singapore and Belgium, reports the Superintendency of Banks.
From the list of the 40 +9 recommendations evaluated, Panama met in full and largely 39 and partly with nine of the recommendations specified by the FATF for the prevention of money laundering and terrorist financing.
The FATF is an intergovernmental body whose purpose is to develop and promote measures to combat money laundering and terrorist financing.
