The Cabinet has approved a draft law which incorporates non-financial sectors such as free zones and real estate agents to the list of entities required to report information according to the law.  HMMMMMM.

 From a statement issued by the Government of Panama:

In the interest of protecting important sectors of the Panamanian economy and complying with international standards on transparency and due diligence, the Cabinet approved on Tuesday a draft law against money laundering, terrorist financing and financing the proliferation of weapons of mass destruction.

This bill is the result of a dialogue between the public and private sectors that has been taking place since the last quarter of 2014 and is part of the “Panama United Against Money Laundering” initiative, whose aim is to get the Nation removed from the gray list of the Financial Action Task Force (FATF).