OPINION: High profile corruption legacy

THE BASEL INDEX measures the risk of countries being used for money laundering and financing of terrorism. In its most recent report, this index classifies Panama as the fourth worst country in Latin America and the Caribbean, only surpassed by Paraguay, Haiti and Bolivia. This alarming result should not be a surprise because of the legacy of high profile corruption that Panama is trying to fight. In addition, the reluctance of financial and regulatory authorities to sanction bad actors in the financial system, and making this information public does not help us either. The brave effort undertaken in recent years has succeeded in getting Panama off the negative lists of different  international agencies but it is finally the history of cases of success and exemplary justice in this matter which will define Panama as a paradise for legal investments, and not with the reputation of being a haven for high-flying criminals, accomplices bankers, and indifferent authorities. That is the great challenge that the whole of society must face to clear the name of the country … hoyporhoy, La Prensa, Aug.25