Unidad de Análisis Financiero (UAF)
Panama's financial intelligence unit. It receives, analyses, and disseminates suspicious transaction reports to law enforcement and competent authorities.
Americas · Country coverage
AML/CTF Compliance in Panama
Panama regulates AML/CTF through the Unidad de Análisis Financiero under Law 23 of 2015. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Panama
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUSBP, SMV, SSR and SSNF (supervisors); Unidad de Análisis Financiero (FIU)
FATF statusGAFILAT member; removed from the FATF grey list in 2023
Primary legislationLaw 23 of 2015 (as amended by Law 129 of 2020)
Overview
AML/CTF compliance in Panama.
Panama regulates money laundering and terrorist financing through Law 23 of 2015, supported by the Unidad de Análisis Financiero, which receives and analyses suspicious transaction reports.
Regulated entities, including corporate service providers, must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the UAF, under supervision from the superintendency for their sector. Panama strengthened its framework and exited the FATF grey list in 2023.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Law 23 of 2015
Panama's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and other obligated entities, including corporate service providers.
Sector supervisors
The Superintendencia de Bancos de Panamá supervises banks, the Superintendencia del Mercado de Valores securities firms, and the Superintendencia de Seguros y Reaseguros insurers. The Superintendencia de Sujetos No Financieros, created by Law 124 of 2020, supervises non-financial obliged subjects.
GAFILAT membership and FATF grey-list exit
Panama is a member of GAFILAT and was removed from the FATF grey list in October 2023 after strengthening its AML/CTF framework, aligning its regime with the FATF 40 Recommendations.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious transactions to the UAF
- Conduct ongoing monitoring of customer relationships
- Maintain internal controls and a compliance officer
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Panama?
Supervision is split between four bodies: the Superintendencia de Bancos de Panamá for banks, the Superintendencia del Mercado de Valores for securities, the Superintendencia de Seguros y Reaseguros for insurance, and the Superintendencia de Sujetos No Financieros for non-financial obliged subjects such as lawyers, accountants, casinos, free zone operators, and real estate agents. The Unidad de Análisis Financiero (UAF) is the financial intelligence unit, not a supervisor.
What is the main AML law in Panama?
Law 23 of 2015, as amended, sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities in Panama, including corporate service providers.
Is Panama a member of FATF?
Panama is a member of GAFILAT and was removed from the FATF grey list in 2023 after strengthening its AML/CTF framework, aligning its regime with the FATF 40 Recommendations.
How does MemberCheck support AML compliance in Panama?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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