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Panama will fight financial crime

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The Ministry of Economy and Finance (MEF) announced that our country will be firmly present in initiatives that prevent financial crime, money laundering, asset laundering and concealment of illicit resources, through its head Héctor Alexander.

These statements were made at the opening of the XLVII Plenary of Representatives of the Latin American Financial Action Task Force (Gafilat), he also explained that these are meetings of singular importance, because the contribution and technical work carried out by each of the countries represented in terms of prevention of money laundering and the financing of terrorism, impacts the global results of control against organized crime.

He added that “we trust that, on this occasion, the contents of the dialogues between the countries present will be important, since they will be able to share relevant experiences, on the different issues and realities that concern us, in the field of financial action.”

For his part, the President of the Republic, Laurentino Cortizo, stressed that “during our government, we have given priority to institutional strengthening to prevent and combat money laundering and terrorist financing, through a robust culture of compliance and transparency.”

In this, it has been important to define and practice national coordination to achieve cohesion and constant communication, among all government agencies and the private sector, as fundamental components in the effectiveness of the prevention system. Integrity, transparency, leadership, cooperation, inclusion and technical professional training are equally important, as key factors to achieve more effective and efficient national and regional systems, stressed the president.

Cortizo stressed that the support of Gafiltat has been and is essential, to achieve the proper implementation of the FATF standards and the strengthening of financial services in all member countries to strengthen international transparency. Technical support for the protection of the socioeconomic integrity of our countries is also important.

Similarly, the president of Gafilat and coordinator of the Republic of Uruguay, Jorge Omar Chediak González, stated that holding this plenary session not only provides legitimacy to the different documents and draft reports made, but also through frank and transparent technical discussions that are generated within each meeting, the work and results obtained by member countries and observer organizations are enriched.

González added that “the work and discussions of this meeting maintain great relevance for our countries, especially considering that fundamental issues are being discussed and approved to prepare us for the fifth round of mutual evaluations. As well as guaranteeing adequate discussion of the fourth round, which, ultimately, will be reflected in the strengthening of our system against money laundering and against the financing of terrorism.”

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