Panama Investigates Money
Laundering
PANAMA - Panamanian authorities are
investigating alleged drug-related money
laundering operations in the national
financial system, in the context of
anti-drug operations.
According to anti-drug authorities, at least
two investigations on money laundering have
been opened, involving 24 people of
different nationalities.
Early this month, anti-drug agents seized
$425,883 from an international money
laundering network comprising Panamanians,
Colombians, and Americans.
National police also confiscated $3 million
in cash in a raid last week and arrested
five Colombians.
The top anti-drug prosecutor, Javier
Caraballo, said one of the cases under
investigation involves a currency exchange
business allegedly used for money
laundering.
The business periodically carried out major
deposit and transfer transactions linking
individuals in Mexico and Colombia.
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