Regulatory Alerts2026-06-22
Agreement No. 3-2026: Establishing Criteria for Imposing and Grading Administrative Sanctions on Banks for Violations of the Prevention Regime
The Banking Superintendence of Panama issued Agreement No. 3-2026 to establish specific criteria for imposing and grading administrative disciplinary and financial sanctions on banks for violations of the anti-money laundering, counter-terrorist financing, and counter-proliferation financing regime. The regulation defines three categories of infringement severity—maximum, medium, and low—based on factors such as gravity, recidivism, damage magnitude, bank size, and criticality. It mandates that sanctions range from license revocation to fines between B/.5,000 and B/.5,000,000, applied according to a structured administrative procedure.
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