Panama angrily denies inclusion of list on money laundering

Panama has replied "with indignation" its inclusion in a new European Commission list of countries at risk as a result of their alleged shortcomings in the fight against money laundering and financing of terrorism.

"Despite exhaustive efforts, Panama was not given the opportunity to inform and reply on the measures undertaken on the legislation and correct any perceived deficiencies that the European Commission perceived," the government said in a statement.

Twenty-two countries are included on the list. Some, such as North Korea, are black sheep of the international family but others, such as Panama and Trinidad-Tobago, are far from being considered in that regard.