On 23rd January, GAFILAT, the regional FATF-style body, published the first follow-up report on Panama, following its mutual evaluation that took place in 2017, and the MER report published last year.

This follow-up report reviews Panamá’s progress in addressing the deficiencies of technical compliance identified in its MER.  The introduction explains that, in general, countries are expected to have addressed most of the technical compliance deficiencies, if not all, before the end of the third year as from the adoption of their MER.  This report does not deal with Panamá’s progress aimed at improving its effectiveness – a subsequent follow-up assessment will analyse the progress on the improvement of effectiveness which may eventually result in the new rating of the Immediate Outcomes.

Panamá has made progress in addressing its technical compliance deficiencies identified in the MER in relation to the following Recommendations:

  • Recommendations 3, 14, 19, 20 and 33, which were originally rated as PC.
  • Recommendations 1, 16, 17, 27, 32 and 35, which were originally rated as LC.

As a result of this progress, Panamá has received a new rating in Recommendations 14, 19, 32 and 33. Improvement of the technical compliance of Recommendations 1, 3, 16, 17, 20, 27 and 35 is not considered sufficient to raise the rating on these recommendations.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: