Regulatory Alerts2022-07-06
Agreement No. 006-2022 Modifying Articles 13, 14, 15, and 16 of Agreement No. 010-2015 on Prevention of Misuse of Banking and Fiduciary Services
The Superintendence of Banks of Panama issued Agreement No. 006-2022 to amend the risk assessment and client profiling requirements under Agreement No. 010-2015. The regulation mandates that supervised entities implement enhanced due diligence measures, including detailed risk profiling criteria and specific identification protocols for natural persons, legal entities, and beneficial owners. These changes aim to close regulatory gaps identified in the Sectoral Risk Assessment and align Panama with international anti-money laundering and counter-terrorist financing standards.
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