ABSTRACT
Free-trade zones such as the Colon free-trade zone in Panama have become centers for illegal commercial and financial activity. One of the most important branches of BCCI was in the Colon free-trade-zone, which was then and continues to be a center for the smuggling of goods and weapons all over the hemisphere. Bank secrecy protection should not cover criminal activity or tax evasion. Jurisdictions that do not accept this proposition should be cut out of the world banking system.
