The Extinction of Domain: A Controversial Step in Panama’s Fight Against Corruption

Corporate Metal Solutions

"Combating Criminal Activities and Illicit Wealth: The Introduction of the Extinction of Domain in Panama"

Recently, Vice President Carlos Fernandez of CMS was present at a seminar organized by APEDE (The Panamanian Association of Business Executives) to discuss the introduction of the extinction of domain in Panama. This concept refers to the confiscation of assets linked to criminal activities, with the goal of transferring these assets in favor of the State.

While this law has the potential to significantly impact the legal system in Panama and help to tackle the problem of criminal activities and illicit wealth, it has also sparked controversy among the senators of Panama. Some believe that the law could lead to loopholes in the legal system, as any property whose origin cannot be explained by its owner would be subject to seizure by the authorities. This has raised concerns about potential abuse of power and the need for proper processes and procedures to be in place.

Minister of Security of Panama, Juan Manuel Pino Forero, was also present at the seminar and gave a presentation on the subject. He highlighted the importance of implementing this law in Panama, as well as the positive results that similar laws have had in other Central American countries such as El Salvador, Honduras, and Guatemala.

Despite the concerns raised by some senators, the seminar organized by APEDE was a crucial step in ensuring that this bill becomes a reality. The presence of Vice President Carlos Fernandez of CMS and Minister of Security Juan Manuel Pino Forero demonstrates the commitment of the government to tackle this important issue and ensure that justice is served.

In conclusion, the extinction of domain is a controversial concept that has the potential to significantly impact the legal system in Panama. The seminar organized by APEDE and the presence of top government officials show that this issue is a top priority, and it is our hope that the introduction of this bill will lead to a safer and more just society for all, while also addressing the concerns of those who are not in agreement with the law.