The Minister of Economy and Finance, Dulcidio De La Guardia , reported through his Twitter account that the Financial Action Task Force ( FATF ) approved Panama off the gray list.
El GAFI aprobó la salida de Panamá de la lista gris de dicha organización. Bien por Panamá.
— Dulcidio DelaGuardia (@ddelaguardia) febrero 18, 2016
The Ministry of Economy and Finance (MEF) reported through a statement the decision was made today at the FATF plenary meeting in Paris, France.
During the meeting, the FATF confirmed that Panama has the legal, regulatory and institutional framework defined in the action plan for the prevention of money laundering, financing of terrorism and proliferation of weapons of mass destruction.
Guard acknowledged that the departure of the gray list of FATF was working together, so they were achieved consensus necessary to safeguard the best interests of the nation. "This allowed the adoption and implementation of a new regulation that makes Panama to the forefront of the fight against money laundering," the head of the Economy Ministry.
The country was included in the list since June 2014 due to deficiencies in the fight against money laundering and terrorist financing, according to the FATF.
In 2015, during the plenary body in October, the International Financial Action Group acknowledged the fulfillment of Panama technically plan and approved the on-site visit conducted from 12 to 14 January 2016.
On Tuesday 16 of this month, the Review of the Americas Group presented in France report the results of the visit to Panama from 12 to 14 January 2016, after verifying the implementation of measures such as making washing assets and financing of terrorism, freeze terrorist assets, reporting of suspicious transactions, customer due diligence and final beneficiary.
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