| YEAR | ENTITY | AMOUNT | DESCRIPTION | Administrative Lawsuit of Full Jurisdiction. Process result: |
|---|---|---|---|---|
| 2018 | CAPITAL BANK, INC. | 175,000.00 | For breaching AML/CFT regulations. - Special examination conducted form January 15 to February 5, 2015 (closing date: December 31, 2014). - Comprehensive examination conducted from February 23 to March 6, 2015, (closing date: May 31, 2015). - Special examination conducted from June 8 to July 10, 2015, (closing date: May 31, 2015). |
Through a Judgment dated December 19, 2022, issued by the Third Chamber of the Supreme Court of Justice (and a Resolution dated March 13, 2023), Resolution SBP-0031-2017 dated March 2, 2017, issued by the Superintendency of Banks of Panama, along with its confirming actions, and in light of the precedent statements, it is ordered to reimburse Capital Bank, Inc. the fines paid. |
| 250,000.00 | For breaching banking regulations. - Special examination conducted from January 20 to February 4, 2015, (closing date: November 30, 2014). - Special examination conducted from August 26 to September 23, 2015, to expand the scope of the comprehensive examination (closing date: December 31, 2014). - Comprehensive examination conducted from August 24 to October 5, 2015 (closing date: June 30, 2015). |
|||
| 2018 | BANCO CITIBANK (PANAMÁ), S.A. (ahora SCOTIABANK PANAMA, S.A.) | 20,000.00 | For breaching banking regulations. - Special examination conducted from June 2 to September 30, 2015 (closing date: May 31, 2015). |
|
| 2018 | BANISTMO, S.A. | 7,500.00 | For breaching the Banking Law, specifically: Article 192; Article 193(5); Article 194(1) and (4); and Article 206; as well as Article 4(a) and (e) of Rule 1-2008, due to an administrative complaint. | |
| 2018 | BANCO FICOHSA (PANAMÁ), S. A. | 10,000.00 | For breaching the Banking Law: Article 111 and Article 194(3); as well as Article 18 of Rule 6-2011, amneded by Article 2 of Rule 9-2014 dated September 23, 2014, due to an administrative complaint. | |
| 2018 | AUSTROBANK OVERSEAS (PANAMÁ), S.A. | 30,000.00 | For breaching the Banking regulations as of October 31, 2017, specifically: 1. Article 70 of the Banking Law; 2. Article 10 of Rule 1-2015 dated February 3, 2015, amended by Rule 13-2015 dated December 13, 2015; 3. Article 38 of Rule 4-2013 dated May 28, 2013, amended by Rule 8-2014 dated September 16, 2014; 4. Article 5 of General Resolution 2-2017 dated May 18, 2017. |
|
| 2018 | CANAL BANK, S.A. | 25,000.00 | For breaching banking regulations as of March 31, 2017, specifically: 1. Article 70 of the Banking Law; 2. Article 10 of Rule 1-2015, amended by Rule 13-2015; 3. Article 38 of Rule 4-2013, amended by Rule 8-2014. |
|
| 2018 | FIDUCIARIA MOSSFON, S.A. | 250,000.00 | For breaching AML/CFT regulations. - Comprehensive examination conductd from April 13 to April 30, 2015 (closing date: December 31, 2014). - Special examination conducted from February 1 to February 2, 2016. - Special examination conducted from April 12 to July 8, 2016, (closing date: March 31, 2016). |
|
| 50,000.00 | Trust Regime - Special examination conducted from April 12 to June 24, 2016 (closing date: March 31, 2016). |
|||
| 2018 | CREDICORP BANK, S.A. | 500,000.00 | For breaching AML/CFT regulations. - Special examination conducted from October 16 to December 4, 2015 (closing date: August 31, 2015). |
|
| 287,500.00 | For breaching banking regulations. - Special examination conducted from October 16 to December 4, 2015 (closing date: August 31, 2015). |
Image
Enforcement – Information updated through July 9, 2023
Enforcement – Information updated through July 9, 2023
As provided for in (a) Article 189 of the Banking Law, which establishes, “The Superintendent is authorized to publish the sanctions imposed in accordance with the provisions of this Decree Law;” (b) Article 77 of Law 21 of 2017, which establishes the rules for the regulation and supervision of Trustees and the trust business and stipulates that “The Superintendent of Banks may inform the public of the fine imposed, either in hardcopy or electronically;” and (c) Article 20(5) of Law 23 of 2015, amended by Law 21 of 2017, that provides “[…] The sanctions imposed hereby will be published on the website of each supervisory entity, stating the name of the sanctioned entity, the type of sanction, and its amount, if the sanction is pecuniary.” Below you will find the pecuniary sanctions of over B/.5,000.00 imposed by the Superintendency in accordance with the Banking Law, Trust Law, and AML/CFT/WMD Law.
The sanctions listed below pertain to concluded processes, the resolutions of which are being administratively enforced. It should be noted that the imposed sanctions result from non-compliance or administrative breaches, and they serve the purpose of corrective actions and the enhancement of the Panamanian banking and trust system. The publication of these sanctions does not indicate a negative view of the supervised entity.