Regulatory Alerts2019-04-02
Agreement No. 001-2019: Catalog of Alert Signals for the Detection of Operations Related to the Financing of Terrorism
The Superintendence of Banks of Panama issued Agreement No. 001-2019 to mandate financial institutions and other supervised entities to implement a specific catalog of alert signals for detecting terrorism financing. The regulation requires these obligated subjects to closely monitor client behavior, economic profiles, geographic factors, and transaction patterns to identify suspicious activities linked to terrorist financing, ransomware, and related crimes. This measure aligns Panama's regulatory framework with international standards, including the FATF Recommendations, to strengthen the national system against money laundering and terrorism financing.
Share