Panama's measures to combat money laundering and the financing of terrorism and proliferation

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Panama Mutual Evaluation 2018

R.1 - Assessing risk & applying risk-based approach: LC
R.2 - National cooperation and coordination: LC
R.3 - Money laundering offence: PC
R.4 - Confiscation and provisional measures: C
R.5 - Terrorist financing offence: LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing: LC
R.7 - Targeted financial sanctions related to proliferation: LC
R.8 - Non-profit organisations: LC
R.9 - Financial institution secrecy laws: C
R.10 - Customer due diligence: LC
R.11 - Record keeping: LC
R.12 - Politically exposed persons: C
R.13 - Correspondent banking: C
R.14 - Money or value transfer services: PC
R.15 - New technologies: C
R.16 - Wire transfers: LC
R.17 - Reliance on third parties: LC
R.18 - Internal controls and foreign branches and subsidiaries: C
R.19 - Higher-risk countries: PC
R.20 - Reporting of suspicious transactions: PC
R.21 - Tipping-off and confidentiality: C
R.22 - DNFBPs: Customer due diligence: LC
R.23 - DNFBPs: Other measures: LC
R.24 - Transparency and beneficial ownership of legal persons: NC
R.25 - Transparency and beneficial ownership of legal arrangements: PC
R.26 - Regulation and supervision of financial institutions: LC
R.27 - Powers of supervisors: LC
R.28 - Regulation and supervision of DNFBPs: LC
R.29 - Financial intelligence units: C
R.30 - Responsibilities of law enforcement and investigative authorities: PC
R.31 - Powers of law enforcement and investigative authorities: LC
R.32 - Cash couriers: LC
R.33 - Statistics: PC
R.34 - Guidance and feedback: C
R.35- Sanctions: LC
R.36 - International instruments: C
R.37 - Mutual legal assistance: LC
R.38 - Mutual legal assistance: freezing and confiscation: LC
R.39 - Extradition: LC
R.40 - Other forms of international cooperation: LC

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024