FinCEN Advisory: Transactions Involving Panama, June 2001, Issue 23A [Withdrawal]   [open pdf - 163KB]

The FinCEN Advisory "...is a recurring series designed for the financial, regulatory and law enforcement communities. Subsequent advisories will describe trends and developments related to money laundering and financial crime." In this issue of FinCEN: "This Advisory is being issued to inform banks and other financial institutions operating in the United States that Financial Crimes Enforcement Network (FinCEN) Advisory 23, regarding the Republic of Panama, is hereby withdrawn. Since the issuance of Advisory 23, Panama has enacted significant reforms to its counter-money laundering system, addressing the points noted in Advisory 23, and has taken concrete steps to bring these reforms into effect. Because of the enactment of new laws and the beginning of effective implementation, enhanced scrutiny with respect to transactions involving Panama, as called for in Advisory 23, is no longer necessary. Panama now has in place a counter-money laundering system that generally meets international standards, as reflected in the recent decision of the Financial Action Task Force on Money Laundering to remove Panama from its list of countries that are non-cooperative in the fight against money laundering."

Public Domain
Retrieved From:
Financial Crimes Enforcement Network: http://www.fincen.gov
Media Type:
FinCEN Advisory (June 2001), iss.23A
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