Panama : Detailed Assessment Report, FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism.

Panama : Detailed Assessment Report, FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism.

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Bibliographic Details
Imprint:Washington, D.C. : International Monetary Fund, ©2014.
©2014
Description:1 online resource (348 pages) : color illustrations.
Language:English
Series:IMF country report ; no. 14/54
IMF country report ; no. 14/54.
Subject:
International Monetary Fund -- Panama.
International Monetary Fund.
Money laundering -- Panama -- Prevention.
Terrorism -- Panama -- Finance -- Prevention.
Money laundering -- Prevention.
Terrorism -- Finance -- Prevention.
Panama.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11304496
Hidden Bibliographic Details
Varying Form of Title:Title from p. 2 of pdf: Panama, detailed assessment report on anti-money laundering and combating the financing of terrorism
Other authors / contributors:International Monetary Fund. Legal Department.
ISBN:9781475531619
1475531613
9781475559743
1475559747
Notes:"International Monetary Fund, Legal Department"--Page 2 of pdf.
"February 2014."
"January 2014"--Page 2 of pdf.
Online resource; title from pdf title page (IMF Web site, viewed Feb. 24, 2014).
Summary:"Panama is vulnerable to money laundering (ML) from a number of sources including drug trafficking and other predicate crimes committed abroad such as fraud, financial and tax crimes. It is a country with an open, dollarized economy and, as a regional and international financial and corporate services center, offers a wide range of offshore financial and corporate services. It is also a transit point for drug trafficking from South American countries with some of the highest levels of production and trafficking of illegal drugs in the world. These factors put the country at high risk of being used for ML. Although the authorities have not conducted a risk assessment, they attribute the largest sources of ML to drug trafficking and other predicate crimes committed abroad. No information or estimates were provided on the extent of domestic and foreign predicate crimes and the amount of related ML in Panama. No terrorism financing (TF) cases have been detected so far"--Abstract.
Other form:Print version: Panama : detailed assessment report-FATF recommendations for anti-money laundering and combating the financing of terrorism. Washington, District of Columbia : International Monetary Fund, ©2014 347 pages IMF country report ; Number 14/54 9781475559743
Standard no.:10.5089/9781475559743.002
Table of Contents:
  • Cover; Contents; 3. List of laws, regulations and other enforceable means (in separate document); 4. Copies of laws and regulations (in separate document); Acronyms; Preface; Executive Summary; 1. KEY FINDINGS; 1.1. Legal Systems and Related Institutional Measures; 1.2. Preventive Measures
  • Financial Institutions; 1.3. Preventive Measures
  • Designated Non-Financial Businesses and Professions; 1.4. Legal Persons and Arrangements and Nonprofit Organizations; 1.5. National and International Cooperation; 2. GENERAL; 2.1. General Information on Panama.
  • 2.2. General Situation of Money Laundering and Financing of Terrorism2.3. Overview of the Financial Sector; Statistical Tables; 1. Structure of Financial Sector
  • 2012; 2. Statistical Table 2; 3. Financial Activity by Type of Financial Institution; 2.4. Overview of the DNFBP Sector; 4. Financial Activity by Type of Financial Institution; 2.5. Overview of commercial laws and mechanisms governing legal persons and arrangements; 2.6. Overview of Strategy to Prevent Money Laundering and Terrorist Financing; 3. LEGAL SYSTEM AND RELATED INSTITUTIONAL MEASURES.
  • 3.1. Criminalization of Money Laundering (R. 1 and 2)3.1.1. Description and Analysis; 3.1.2. Recommendations and Comments:; 3.1.3. Compliance with Recommendations 1 and 2; 3.2. Criminalization of Terrorist Financing (SR. II); 3.2.1. Description and Analysis; 3.2.2. Recommendations and Comments; 3.2.3. Compliance with Special Recommendation II; 3.3. Confiscation, Freezing and Seizing of Proceeds of Crime (R. 3); 3.3.1. Description and Analysis; 3.3.2. Recommendations and Comments; 3.3.3. Compliance with Recommendation 3; 3.4. Freezing of Funds Used for Terrorist Financing (SR. III).
  • 3.4.1. Description and Analysis3.4.2. Recommendations and Comments; 3.4.3. Compliance with Special Recommendation III; 3.5. The Financial Intelligence Unit and its Functions (R. 26); 3.5.1. Description and Analysis; 3.5.2. Recommendations and Comments; 3.5.3. Compliance with Recommendation 26; 3.6. Law Enforcement, Prosecution and Other Competent Authorities-the Framework for the Investigation and Prosecution of Offenses, and for Confiscation and Freezing (R. 27 and 28); 3.6.1. Description and Analysis; 3.6.2. Recommendations and Comments; 3.6.3. Compliance with Recommendations 27 and 28.
  • 3.7. Cross-Border Declaration or Disclosure (SR. IX)3.7.1. Description and Analysis; 3.7.2. Recommendations and Comments; 3.7.3. Compliance with Special Recommendation IX; 4. PREVENTIVE MEASURES-FINANCIAL INSTITUTIONS; 4.1. Law, Regulations, and Other Enforceable Means; 4.2. Risk of Money Laundering or Terrorist Financing; 4.3. Customer due Diligence, including Enhanced or Reduced Measures (R. 5 to 8); 4.3.1. Description and Analysis; 4.3.2. Recommendations and Comments; 4.3.3. Compliance with Recommendations 5 to 8; 4.4. Third Parties and Introduced Business (R. 9).

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