07944oam 22013454 450 991081981290332120240402091701.01-4755-5988-71-4755-3111-71-4755-3161-3(CKB)3710000000094583(EBL)1653424(SSID)ssj0001220128(PQKBManifestationID)11681192(PQKBTitleCode)TC0001220128(PQKBWorkID)11219347(PQKB)10237601(MiAaPQ)EBC1653424(Au-PeEL)EBL1653424(CaPaEBR)ebr10852146(CaONFJC)MIL582608(OCoLC)874322714(IMF)1PANEE2014001(IMF)1PANEA2014001(EXLCZ)99371000000009458320020129d2014 uf 0engur|n|---|||||txtccrPanama : Detailed Assessment Report—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (349 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4755-5974-7 Cover; Contents; 3. List of laws, regulations and other enforceable means (in separate document); 4. Copies of laws and regulations (in separate document); Acronyms; Preface; Executive Summary; 1. KEY FINDINGS; 1.1. Legal Systems and Related Institutional Measures; 1.2. Preventive Measures - Financial Institutions; 1.3. Preventive Measures - Designated Non-Financial Businesses and Professions; 1.4. Legal Persons and Arrangements and Nonprofit Organizations; 1.5. National and International Cooperation; 2. GENERAL; 2.1. General Information on Panama2.2. General Situation of Money Laundering and Financing of Terrorism2.3. Overview of the Financial Sector; Statistical Tables; 1. Structure of Financial Sector - 2012; 2. Statistical Table 2; 3. Financial Activity by Type of Financial Institution; 2.4. Overview of the DNFBP Sector; 4. Financial Activity by Type of Financial Institution; 2.5. Overview of commercial laws and mechanisms governing legal persons and arrangements; 2.6. Overview of Strategy to Prevent Money Laundering and Terrorist Financing; 3. LEGAL SYSTEM AND RELATED INSTITUTIONAL MEASURES3.1. Criminalization of Money Laundering (R. 1 and 2)3.1.1. Description and Analysis; 3.1.2. Recommendations and Comments:; 3.1.3. Compliance with Recommendations 1 and 2; 3.2. Criminalization of Terrorist Financing (SR. II); 3.2.1. Description and Analysis; 3.2.2. Recommendations and Comments; 3.2.3. Compliance with Special Recommendation II; 3.3. Confiscation, Freezing and Seizing of Proceeds of Crime (R. 3); 3.3.1. Description and Analysis; 3.3.2. Recommendations and Comments; 3.3.3. Compliance with Recommendation 3; 3.4. Freezing of Funds Used for Terrorist Financing (SR. III)3.4.1. Description and Analysis3.4.2. Recommendations and Comments; 3.4.3. Compliance with Special Recommendation III; 3.5. The Financial Intelligence Unit and its Functions (R. 26); 3.5.1. Description and Analysis; 3.5.2. Recommendations and Comments; 3.5.3. Compliance with Recommendation 26; 3.6. Law Enforcement, Prosecution and Other Competent Authorities-the Framework for the Investigation and Prosecution of Offenses, and for Confiscation and Freezing (R. 27 and 28); 3.6.1. Description and Analysis; 3.6.2. Recommendations and Comments; 3.6.3. Compliance with Recommendations 27 and 283.7. Cross-Border Declaration or Disclosure (SR. IX)3.7.1. Description and Analysis; 3.7.2. Recommendations and Comments; 3.7.3. Compliance with Special Recommendation IX; 4. PREVENTIVE MEASURES-FINANCIAL INSTITUTIONS; 4.1. Law, Regulations, and Other Enforceable Means; 4.2. Risk of Money Laundering or Terrorist Financing; 4.3. Customer due Diligence, including Enhanced or Reduced Measures (R. 5 to 8); 4.3.1. Description and Analysis; 4.3.2. Recommendations and Comments; 4.3.3. Compliance with Recommendations 5 to 8; 4.4. Third Parties and Introduced Business (R. 9)4.4.1. Description and AnalysisThis report evaluates the level of implementation of Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) in Panama. The findings reveal that Panama is vulnerable to money laundering from a number of sources, including drug trafficking and other predicate crimes committed abroad, such as fraud and financial and tax crimes. The AML Law covers most of the core financial sectors but does not fully apply to the insurance sector and does not extend to a number of other financial activities as required under the FATF standard. Competent authorities, including law enforcement and the Financial Intelligence Unit, do not have timely access to information on legal persons and arrangements as required under the FATF standard.IMF Staff Country Reports; Country Report ;No. 2014/054Money launderingPanamaPreventionTerrorismPanamaFinancePreventionBanks and BankingimfPublic FinanceimfCriminologyimfIndustries: Financial ServicesimfIllegal Behavior and the Enforcement of LawimfTaxation, Subsidies, and Revenue: GeneralimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfCorporate crimeimfwhite-collar crimeimfPublic finance & taxationimfBankingimfFinanceimfAnti-money laundering and combating the financing of terrorism (AML/CFT)imfLegal support in revenue administrationimfMoney launderingimfTerrorism financingimfCrimeimfRevenue administrationimfInsurance companiesimfFinancial institutionsimfRevenueimfBanks and bankingimfPanamaimfMoney launderingPrevention.TerrorismFinancePrevention.Banks and BankingPublic FinanceCriminologyIndustries: Financial ServicesIllegal Behavior and the Enforcement of LawTaxation, Subsidies, and Revenue: GeneralBanksDepository InstitutionsMicro Finance InstitutionsMortgagesPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsCorporate crimewhite-collar crimePublic finance & taxationBankingFinanceAnti-money laundering and combating the financing of terrorism (AML/CFT)Legal support in revenue administrationMoney launderingTerrorism financingCrimeRevenue administrationInsurance companiesFinancial institutionsRevenueBanks and banking364.168097287DcWaIMFBOOK9910819812903321Panama1187121UNINA