Originally posted on Money Jihad:
The role of Lebanon’s banking system in funneling money to Iran is well documented. The U.A.E.’s role as a transit point for illegal trade throughout the Middle East is also well known to readers of this blog and the @MoneyJihad feed on Twitter.
But one country historically associated with money laundering in the Americas rather than the Middle East deserves scrutiny as well: Panama.
Panama’s system allows for some pretty loose business deals and transactions, and the country has long been known for its role in circumventing the embargo against Cuba.