On 22nd August, FATF-style regional body GAFILAT published the 2nd follow-up report on Panama. The original mutual evaluation report was adopted by GAFILAT in December 2017. The new report says that, in general, Panama continues to make significant progress in addressing the Technical Compliance deficiencies identified in its MER and has been re-rated in FATF Recommendation 3 (from Partially Compliant to Largely Compliant), Recommendation 20 (from Partially Compliant to Compliant), Recommendation 24 (from Non-Compliant to Partially Compliant) and Recommendation 30 (from Partially Compliant to Compliant.) It also showed progress in Recommendation 25. Panama will continue in the enhanced follow-up process and will continue to report to GAFILAT on the progress made to strengthen its implementation of AML/CFT measures.
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