XVI Congress - Prevention of Money Laundering and Combating the Financing of Terrorism
Experts from six countries will be the speakers at the XVI Congress Committee for the Prevention of Money Laundering and Combating the Financing of Terrorism and to be held in Panama City from 22 to 24 August, sources said today. Julio Aguirre, president of the organizing committee, sponsored by the Banking Association of Panama, said the intention of inviting experts from Argentina, Colombia, Guatemala, Peru, Panama and the United States, is so that participants will have the "big picture" on the issue of money laundering and terrorism. "To the extent that we can focus a group of experts, we can learn the vulnerabilities that are registered in other countries, their experiences, the adequacy of certain laws and what is the overall conceptualization of this issue," Aguirre said in a conference release. Aguirre said among the topics to be discussed, besides the actual money laundering, also speaking on cooperatives, stock exchanges, casinos and specifically about the Colon Free Zone, Panama in the Caribbean.
He said they will also address controversial issues such as FATCA, the Criminal Adversarial System in Panama, and the scope of the new recommendations made by the International Financial Action Task Force on Money Laundering (FATF). Aguirre said the issue of FATCA (Foreign Account Tax Compliance Act), regulations made by the U.S. government in 2010, was included in the Congress because it will be applied to all countries, especially to financial intermediaries , and that's exactly right in all matters relating to prevention. (Prensa)
