FATF refuses to take Panama off grey list

Pedro Gonçalves
clock • 1 min read

Panama has been unsuccessful in being removed from FATF's grey list as the global organisation says the country still has deficiencies in its anti-money laundering rules. According to FATF, Panama stills need to strengthen its understanding and mitigation of anti-money laundering and countering terrorist financing (AML/CTF) risks; proactively identify unlicensed money remitters; supervise the non-financial sector and enforce sanctions against infringers; enforce adequate verification and update of beneficial ownership information by obliged entities, and access to it by government It ...

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