Regulatory Alerts2026-01-23
Agreement No. 1 (2026) - Prevention of the Misuse of Banking and Trust Services
The Superintendency of Banks of Panama issued Agreement No. 1-2026 to update and consolidate regulations for preventing money laundering, terrorist financing, and the proliferation of weapons of mass destruction. The agreement mandates that supervised entities implement a risk-based approach, maintain approved anti-money laundering manuals, and establish dedicated compliance committees. It further requires rigorous customer due diligence, including simplified, standard, and enhanced measures based on risk profiles, and strict oversight of interbank and correspondent relationships.
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