Blog · English
Financial Action Task Force (FATF) and Panama
This article retains its original publication date. Its legal references and descriptions reflect the context in which it was written. For advice on your current circumstances, contact the firm.
Editorial review dated September 7, 2026: outdated references have been corrected. The original publication date is retained.
The Financial Action Task Force (FATF), known in Spanish as GAFI, sets international standards to combat money laundering, terrorist financing and proliferation financing. Its monitoring process evaluates jurisdictions' progress in addressing identified deficiencies.
Historical context
On October 27, 2023, FATF announced that Panama was no longer subject to its increased monitoring process. The original article's predictions about a future removal should therefore not be read as a description of the present situation.
That announcement concerns FATF's process. It should not be confused with decisions made by other organisations or used as a substitute for checking the status relevant to a particular transaction.
Why compliance matters to businesses
Businesses and their advisers should understand their activities, identify the documentation required and maintain clear records. Client identification, ownership information and supporting documents are practical issues to address when establishing or maintaining a business relationship.
Individual assessment
Requirements vary according to the activity and the institution involved. A review of the particular circumstances helps organise the necessary information and address enquiries from the relevant professionals.
For assistance, explore BCCA's risk and compliance services.
Reference: FATF statement of October 27, 2023.