Article 65 of Cabinet Decree 238 says that the National Banking Commission may only inspect the general bank books and not single out individual bank accounts. This can only be broken by a court order.



Article 74 of Decree 238 say that the Banking Commission cannot investigate individual banking clients. Even if someone comes up with something they cannot reveal their information. If they do they will be subject to Article 101 which is a monetary fine. This can also be broken by a court order.

Article 65 of Cabinet Decree 238 says that the National Banking Commission may only inspect the general bank books and not single out individual bank accounts. This can only be broken by a court order.

Article 74 of Decree 238 say that the Banking Commission cannot investigate individual banking clients. Even if someone comes up with something they cannot reveal their information. If they do they will be subject to Article 101 which is a monetary fine. This can also be broken by a court order.

Articles 168 and 170 of the Panamanian Criminal Code talk about criminal prosecution for violation of the Banking Secrecy Laws. In the case of people who had this information due to their professions would lose the authority to practice their professions for two years. This is to cover all Panama foundation council members or corporation directors, to further ensure the safety of offshore assets.Anyone is possession of private documents who discloses the information, or anyone in possession of such information which chould cause damages and discloses it with out consent could got to prison for 10 months to 2 years!

So, Panama is willing to hold off the world to up hold it's Banking Secrecy laws. What could be safer than that?