FATF on 11th 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.
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