FREE TRADE ZONES AND ILLICIT GOLD FLOWS IN LATIN AMERICA AND THE CARIBBEAN

The OECD report was published on 16 December and says that high-risk gold originating in Latin America and the Caribbean is often laundered within the region before advancing to destination markets.  The report examines the risks and vulnerabilities linked to financial crimes in gold trade through FTZ, focusing on Colombia, Panama, and the Dominican Republic.

https://www.oecd.org/publications/free-trade-zones-and-illicit-gold-flows-in-latin-america-and-the-caribbean-7536db96-en.htm

PANAMA: COLÓN FREE ZONE REJECTS REPORTS THAT IT IS A HUB FOR GOLD SMUGGLING

On 21 January, accusations by the OECD that the Colon Free Zone (ZLC) serves as a transit for gold smuggling from other countries in the region, have been strongly rejected.  A OECD report entitled “Free Zones and Illicit Gold Flows in Latin America and the Caribbean”, published  in December, said that the country is “an important transit center for a series of goods, including smuggled gold from other countries in the region”. 

https://www.newsroompanama.com/news/free-zone-rejects-reports-that-it-is-a-hub-for-gold-smuggling

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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