Superintendency of Banks of Panama trains banks on new risk based controls against misuse of banking and trust services

The Superintendency of Banks of Panama held a training session for bank representatives to support implementation of Agreement No. 1-2026 on preventing the misuse of banking and fiduciary services. The session provided technical guidance on the scope of the new rule and its main changes, with a focus on functions directly linked to the new obligations and ongoing customer relationships, including compliance officers, business executives and staff responsible for updating customer data. The authority presented the agreement as an update to Panama’s banking regulatory framework built around a risk based approach to anti-money laundering, counterterrorist financing and counterproliferation financing controls. Key changes highlighted in the training included stronger customer and beneficial ownership due diligence, methodologies for risk classification and segmentation, differentiated due diligence measures, improved monitoring mechanisms and stronger corporate governance structures for managing compliance risk. The session also addressed the challenges created by financial sector digital transformation, emphasizing the need to align innovation with effective controls for risks arising from new channels and financial services. The Superintendency said it will continue supporting supervised entities through training, dialogue and cooperation to promote consistent implementation of the agreement.