Controversy Over Panamanian Banks Increasing

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Sunday, September 1, 1985
Author: 
Bruce Zagaris
Volume: 
1
Issue: 
1
Abstract: 
In Panama and the U.S. controversy and pressure over laundering in Panama is increasing.  On March 2, the National Banking Commission announced that the Government of Panama had decided to revoke the license of the First Interamericas Bank due to unusual movements of cash.  La Prensa, the opposition newspaper, has also reported that a U.S. investigation has linked the Banco National de Panama to money-laundering operations.