International edition
September 27, 2021

Country was added to the list in 2014

Panama exits from FATF's grey list

Panama exits from FATF's grey list
The plenary of the Financial Action Task Force (FATF) held in Paris, France, approved that Panama exits from the grey list of this entity.
Panama | 02/25/2016

The plenary of the Financial Action Task Force (FATF) held in Paris, France, approved that Panama exits from the grey list of this entity.

T

he Financial Action Task Force acknowledged the progress made by Panama in the strengthening of its legal framework for the prevention of money-laundering and the financing of terrorism.

During the meeting, FATF confirmed that Panama has the legal, regulatory and institutional framework defined in the Action Plan for the prevention of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction.

"This is a triumph of all Panamanians, of a country that worked together, both public and private sector, and achieved the necessary consensus to safeguard the best interests of our nation. This allowed the adoption and implementation of a new regulation which places Panama at the forefront in the field of the fight against money-laundering", emphasized the minister of Economy and Finance, Dulcidio De La Guardia.

From July 2014, Panama has made rapid advances in the implementation of the 19 points of the action plan previously agreed with FATF to strengthen the systems of supervision and control.

In 2015, during the plenary of the Agency held in October, the Financial Action Task Force recognised the compliance of Panama of the plan at a technical level and approved the on-site visit performed from the 12th to the 14th of January of
2016.

The FATF plenary in Paris was attended by the Minister Dulcidio De La Guardia; the Deputy Minister of Finance, Eyda Varela de Chinchilla; the director of the Financial Analysis Unit (Unidad de Analisis Financiero – UAF, for its acronym in Spanish), Alexis Bethancourt; and the Superintendent of Banks, Ricardo Fernández, among others.

http://www.mef.gob.pa/es/noticias/Documents/PANAMA%20EXITS%20FROM%20FATF%20S%20GREY%20LIST.pdf

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