Panama returns to EU high risk laundering list

Following Panama’s return to the European Union’s list of high-risk countries for money laundering, lawyers and financial sector operators were quick to react and questioned the methodology and scope of the sanctions list.

The inclusion of Panama and 11 other jurisdictions had been announced by the EU in May, but its effects came into force on Thursday, October 1.

Ramón Anzola , member of the board of directors of the Association of International Lawyers, spoke of  “biased criteria to exclude themselves [the EU] and pressure other countries to make changes, while they do not.” This is a relationship of “third countries “that, in the opinion of the EU, have deficiencies in the fight against money laundering, he added.

The lawyer Carlos Barsallo said  that one of the criticisms that has been made to the list is that “not all those who should be there are included,” reports  La Prensa.