The EU. money laundering and judicial wrist slaps

Amid the pandemic, the European Union (EU) surprises us with its decision to include Panama in a list of jurisdictions that do not cooperate in the fight against money laundering and terrorist financing. The EU demonstrates its lack of sensitivity to the crisis we are facing and the need to have the financial system in the best capacity to contribute to economic recovery. The European decision was not unanimous, since Spain, a country that knows us and invests significantly here, opposed it. Panama has approved substantial changes in its legislation and in its corporate regime, and in the institutions in charge of supervising the economic sectors. At the same time, figures such as the compliance officer and the risk assessment have been deployed, as part of the day to day of Panamanian financial activity. It is true that the country needs to demonstrate achievements in judicial matters, with exemplary sentences and severe economic sanctions against these crimes. However, it is no less true that the EU remains selective in its lists. Panama must fight against this injustice, which ignores reality – LA PRENSA, May 8