PANAMA CITY, Dec 18 (PBI) – Panama’s Superintendent of Banks, Milton Ayón Wong, delivered his 2025 progress report on Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT), outlining a year of intensified oversight and regulatory modernization during an extended meeting of the National Commission against Money Laundering (CNBC).

Addressing key stakeholders across the national financial system, Ayón Wong detailed the SBP’s strategic advancements in the prevention of money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction (AML/CFT/CPF).

Regulatory Milestones and Integrity Guides

A cornerstone of the 2025 report was the successful completion of the inspection cycle for both primary regulated entities and other reporting institutions. These audits are designed to ensure the structural integrity of Panama’s banking center and its adherence to international transparency standards.

The Superintendent also highlighted the update of the Integrity Guides for the banking sector. This initiative was a collaborative effort involving the public and private sectors, alongside technical support from the Inter-American Development Bank (IDB). The updated guides provide a modernized roadmap for financial institutions to mitigate risks in an increasingly complex global financial environment.

Enhancing Competitiveness through Innovation

In a move to balance strict compliance with market efficiency, Ayón Wong announced the conclusion of the bank account opening pilot plan. This program was designed to streamline onboarding processes, aiming to improve the customer experience and bolster the competitiveness of Panama’s banking jurisdiction without compromising due diligence protocols.

Capacity Building and Inter-Institutional Cooperation

The SBP’s strategy for 2025 also emphasized human capital and cooperation:

• Continuous Training: The implementation of specialized training programs for both SBP staff and employees of regulated financial institutions.
• Specialized Committees: Active participation in technical workgroups and committees focused on the prevention of financial crimes.

“These actions reaffirm the SBP’s commitment to maintaining a solid, transparent financial system that is fully aligned with international best practices,” the Superintendent stated.

The report underscores Panama’s ongoing efforts to solidify its position as a secure and compliant regional financial hub, focusing on the dual goals of robust supervision and operational modernization.