PANAMA CITY, July 8, 2016 /PRNewswire/ -- FPB Bank Inc. is a Panamanian bank operating since 2005. Currently it has a General Banking License and a Broker Dealer License.
FPB Bank Inc. has been mentioned in the context of an investigation that is taking place in Brazil, where FPB Bank Inc. does not have operations. The facts as presented do not constitute a true information and our bank has operated within the framework of the due process, according to the laws governing the banking sector of Panama and international banking and financial standards.
Therefore, and in our best interest, in the highest sense of responsibility to our employees, clients, the Panamanian banking and financial sector, authorities, institutions and stakeholders, we consider it appropriate to clarify the following:
- FPB Bank Inc. has strictly complied with national and international standards on prevention of money laundering and alignment with the laws and resolutions issued by the Superintendence of Banks and the Superintendence of Securities.
- We anticipate that the mistake in linking FPB Bank Inc. to an investigation process in Brazil in which we are not part of it, responds to the possibility that some of our clients may have requested services from the law firm Mossack & Fonseca, who as it is publicly known is being investigated by prosecutors in Brazil.
- This choice made by the clients has led authorities in Brazil to consider that there might be some kind of association between Mossack & Fonseca and FPB Bank Inc., which is false.
- FPB Bank Inc. does not have any link with the investigation "Lava Jato" that is underway in Brazil and is not a client, or intermediary of Mossack & Fonseca, nor Mossack & Fonseca is Resident Agent or lawyers of FPB Bank Inc.
In this context and in our best interest to clarify this misunderstanding and separate FPB Bank Inc. of any responsibility for the events reported in Brazil, we have made available to the authorities all the information required and we are working actively with the Superintendence of Banks of Panama and the Superintendence of Securities of Panama, to demonstrate fully compliance with all current regulations concerning the prevention of money laundering, terrorist financing and financing of proliferation of weapons of mass destruction as well as international banking standards.
We keep open the channels of communication to clarify any information and resolve this situation as soon as possible.
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SOURCE FPB Bank Inc.