Panama removed from the European Union’s list of high-risk jurisdictions 

Arias - The European Parliament has approved the removal of the Republic of Panama from the list of high-risk jurisdictions with strategic deficiencies in their national anti-money laundering (AML) regimes.

Among the immediate benefits for Panama following this decision are:

• Strengthening of the country’s international reputation and image
• Increased confidence from foreign investors
• Greater ease in conducting financial and commercial transactions with European entities
• Enhanced competitiveness of Panama’s financial and logistics hub
• Reinforcement of trade and the national economy

Panama’s official removal from the list further reinforces the international community’s confidence in the measures and actions the country has undertaken in the fight against money laundering and the financing of terrorism. It positions Panama as a jurisdiction that complies with international standards in this area.

The European Parliament’s approval follows a recommendation from the European Commission, based on technical information provided by the Financial Action Task Force (FATF), which removed Panama from its grey list in 2023.

ariaslaw.com