LatinNews Daily - 30 April 2021

In brief: Anti-money laundering bills unveiled in Panama

* Panama’s economy & finance minister Héctor Alexander and security minister Juan Manuel Pino have presented three legislative bills aimed at strengthening the fight against money-laundering. Panama currently features on the grey lists of countries considered non-cooperative in the global fight against money laundering and terrorist financing of both the Organisation for Economic Co-operation and Development (OECD) Financial Action Task Force (FATF) and the European Union. One of the bills includes “adjustments” with regard to legislation relating to international transparency and prevention of money laundering, terrorism financing & weapons of mass destruction proliferation. Another establishes measures related to the entry and handling of cash, securities and negotiable instruments over US$10,000 that is not declared upon entering the country, while another bill relates to the forfeiture of illicit assets.

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