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