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The FinCEN said so clearly in the report published last week: networks of corruption that took more than two billion dollars of PDVSA, a total of 4.2MM from Venezuela, used briefcase companies registered in Panama. With the complicity of senior executives from Private Banking Andorra, using fake contracts and complex financial products managed legitimize the stolen deluxe funds. Financial and law enforcement authorities in Andorra and Spain analyze transactions by the lattice formed by senior officials of the oil and their accomplices in the private sector. For this, the Spanish national police deluxe have already obtained the information in the server Andorra Private Banking and Banco Madrid has retired all documents relating to suspicious accounts reported by the financial intelligence unit of the US. For now, they have transcended details of some illegal transactions by the Chinese mafia, deluxe which also used companies based in the Central American country. It is not excluded that these companies-facade, like hundreds of others have been created by the executives of the bank to provide services laundering of the proceeds of crime, their clients organized crime groups China, Russia and Venezuela. An example is the operation performed by members of the Chinese mafia in 2012. To transfer funds from their illegal activities related to trafficking and extortion, from Spain to the Bank of China in Beijing, used Laurum Business SA company registered in Panama , through an account of Deutsche Bank.
Authorities in Panama, meanwhile, have also reacted to the report of FinCEN and since last week have undertaken actions to improve its legislation on the issue of prevention of money laundering.
US seems to be losing patience with the Central American country. The Treasury Department warned last October its banking system through a communication from FinCEN deluxe on high risk that transact with Panamanian entities, after the country was included in the list of the Financial Action Task Force (FATF ), 'by poor controls against money laundering and terrorist financing. " In response, the banking system of the United States has blocked transactions to three Panamanian industries, after being identified as suspected cases.
Against this background, and given that financial activity is the main economic engine of the country, Panama is working against time to leave the gray list FATF, in the interest of protecting important sectors of the economy and meet international standards of transparency and due diligence
Therefore, it is actively cooperating in the investigation initiated by allegations of money laundering Banking and Bank Andorra Madrid. Concrete measures are expected against the network of companies briefcase created to legitimize proceeds of corruption associated with Venezuelan PDVSA and other public companies, contractors and suppliers.
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