Panama touts official removal from financial task force grey list

Chicago, Oct. 27 – The republic of Panama announced that the government has been officially removed from the grey list of the Financial Action Task Force, according to a press release.

The republic was found at a plenary meeting in Paris to have strengthened its anti-money laundering and counter-terrorist financing prevention system and taken a step forward in international transparency.

The government pointed out that benefits include more accessible lines of credit for individuals and businesses, improved banking correspondents and international relations, less pressure on the financial system and benefits for the insurance and securities industry.

The country was added to the grey list in June 2019.

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