The Financial Action Task Force (FATF) kept Panama on the gray list, which identifies jurisdictions with deficiencies in the money laundering prevention regime, and once again expressed “significant concern” because the country has not managed to complete the plan of action agreed in 2019 to precisely address these faults.
The international body strongly urged Panama to show progress quickly and complete the action plan by June 2022, when the next plenary meeting will be held.
If it does not, the FATF would consider new steps, such as urging other jurisdictions to apply extended due diligence measures to business relationships and transactions with Panama.
Next June, three years will have passed since the country’s last entry on the gray list.
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