Panama has passed a new law as part of its effort to get off the Financial Action Task Force’s list of countries where it may be simpler to launder money.
According to the Tico Times, the new law establishes a commission against money laundering as well as a financial analysis unit that will collect and analyze reports of suspicious transactions. It also allows enforcers to look at accountants, auditors and notaries, casinos, money exchange firms and pawnshops, among other entities.
After the law is signed by Panamanian President Juan Carlos Varela, it will be presented to the Paris-based FATF.
