FINANCIAL AFFAIRS

Financial Action Group begins analysis of Panama

It will take place over two weeks.

Temas:

Meetings have started to assess Panama's compliance with anti-money laundering standards. Meetings have started to assess Panama's compliance with anti-money laundering standards. Expandir Imagen
Meetings have started to assess Panama's compliance with anti-money laundering standards. LA PRENSA/Ana Rentería

Starting today Panama will undergo the fourth mutual evaluation by the International Financial Action Task Force (FATF). 

The meeting is headed by President Juan Carlos Varela and Vice President Isabel De Saint Malo de Alvarado.

Through these meetings the group will measure the effectiveness of the implementation of the regulatory framework to prevent money laundering. 

It has been reported that the application of the rules to prevent these crimes in banking, insurance and all non-financial subjects is sought.

Panama has been on a gray list compiled by the group since 2014, listing it as a non-cooperative juriidiction. With the approval of regulatory changes, Panama left the list in 2016.

Passing the test will help preserve the competitiveness of the financial system, one of the largest in the region.

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