Friday, June 18, 2021

Logo Central America Link

New York imposes $180 million fine on bank in Panama

Monday, August 22, 2016

Panama continues to be a recognized jurisdiction at high risk for money laundering  says the New York Superintendent of Financial Services.

In  imposing  a fine of  $180 million fine on a Taiwanese bank with branches in the country, Maria T. Vullo said she found that the central management  of the International Commercial Bank of Taiwan was: “indifferent to the risks associated with transactions involving Panama.”

Source: Newsroom Panama