Panama Is Resisting U.S. Pressure To Alter ‘Inadequate’ Bank Laws
|
|
LEAD: Officials of the new Panamanian Government are resisting United States pressure to change the banking laws that historically made the country a haven for enormous illicit drug profits before Gen. Manuel Antonio Noriega was removed from power. Officials of the new Panamanian Government are resisting United States pressure to change the banking laws that historically made the country a haven for enormous illicit drug profits before Gen. Manuel Antonio Noriega was removed from power. The Panamanians say the current laws and the new Government are more than adequate to prevent such abuses. American law-enforcement officials and legislators are concerned that the new Government and the country’s appetite for foreign investment will actually lead to even greater use of Panamanian financial institutions to conceal illicit drug profits. Edgardo Lasso Valdes, the president of the Panamanian banking association and one of the country’s seven banking commissioners, said in an interview: ”The only problem of money laundering in Panama is the newspapers that mention that Panama is a big money-laundering center. , To be honest, we don’t feel there is any problem.” More : query.nytimes.com |