FATF: PANAMA AML/CFT ASSESSMENT FOLLOW-UP REPORT

FATF on 11^th September published the August 2019 follow-up report to its 2018 mutual evaluation report.  Panama has been making important progress and has been re-rated on 4 FATF Recommendations – Recommendation 3 from PC to LC; Recommendation 20 from LC to C; Recommendation 24 (Transparency and beneficial ownership of legal persons. Countries should take measures to prevent the misuse of legal persons for money laundering or terrorist financing) from NC to PC; and Recommendation 30 from PC to C.  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.

http://www.fatf-gafi.org/media/fatf/documents/reports/fur/GAFILAT-Follow-Up-Report-Panama-2019.pdf

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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 View all posts by raytodd2017