Awareness Conference Addressed to Public and Private Institutions Supervised by the SBP

Thursday, 21 December 2023

With the purpose of strengthening best financial practices and adapting to the global financial environment, the Prevention and Control of Illicit Operations Division of the Superintendency of Banks of Panama (SBP) held the 6th Financial Crimes and Regional Threats Awareness Conference.

The session focused on improving the commitment to combating money laundering, terrorism financing, and financing the proliferation of weapons of mass destruction and brought together 354 employees from banks, trust companies, savings and loans unions, finance companies, leasing companies, factoring companies, money service businesses, exchange bureaus, payment means, and development banks.

The activity, organized as a two-day event, provided a learning and reflection environment where attendees addressed crucial issues that directly affect the integrity and stability of the country’s financial system.

Panama’s commitment to constant evolution, in response to the Financial Action Task Force’s (FATF) recommendations, was demonstrated in various discussion panels and sessions.

In the conference, various key aspects were explored, such as the evolution of Panama’s practices before FATF’s recommendations, the vital role of national anti-money laundering and terrorism financing risk assessments, best practices for the exchange of fiscal information, aspects of financial technologies, emerging risks and mitigation strategies, and financial crimes and regional threats.

During the opening remarks, the Superintendent of Banks, Amauri A. Castillo, emphasized that this conference marks an inspiring milestone and a catalyst for concrete actions that reinforce Panama’s and financial institutions’ commitment.