Free trade zones (FTZs) across Latin America and the Caribbean are vulnerable to illicit trade, according to a detailed and comprehensive new OECD report, Free trade zones and illicit gold flows in Latin America and the Caribbean.

It focuses on the extensive use of gold-based money laundering (GBML) and gold laundering and says that Colón, the world’s second-largest FTZ located in Panama, has a long history as a hub for gold-related illicit trade and trade-based money laundering.

You need to be logged in to view this article.

If you are an existing subscriber please enter your credentials to log in.

To become a member of The Association of Trade Finance Compliance Professionals (ATFCP) click here!