The Mossack Fonseca Group is a leading international corporation which provides comprehensive legal, trust, technological and accounting services. With over 500 staff members in all continents, Mossack Fonseca provides personalized advice based on more than 36 years of experience in the market. They also offer world-class service through their exclusive online services which are available 24 hours a day.
The Financial Action Task Force (FATF) will conduct a "review in place" in Panama from 12-14 January 2016. A successful outcome is crucial for Panama to leave the list of non-cooperative countries with regard to the prevention of money laundering and terrorist financing. If Panama is deemed compliant with FATF standards, they will be removed from the list in February 2016.
The FATF put Panama on the list in June 2014 after an unfavourable report by the International Monetary Fund (IMF). The country then adopted an action plan that included the amendment of five laws and reporting requirements with regard to suspicious transactions.
Panama aims to pass the review which, in addition to being beneficial to their financial system, would be an extraordinary achievement in such a short period of time.
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