meta_id 3300465

On June 25, 2026, the Board of Directors of the Superintendency of Banks of Panama (SBP) issued Rule No. 3-2026, dated May 29, 2026, establishing criteria for imposing and calibrating administrative sanctions on banks for non-compliance with the anti-money laundering, counter-terrorism financing, and proliferation financing of weapons of mass destruction (AML/CFT/CPF) preventive framework. The new regulation strengthens legal certainty, transparency, and objectivity in the SBP's application of administrative sanctions by providing clear parameters for assessing violations and determining corresponding enforcement measures. Rule No. 3-2026 applies to banking entities that fail to comply with the AML/CFT/CPF preventive framework through action or omission, with violations processed according to the sanctioning procedure established under Rule No. 9-2015. The Rule introduces a graduated framework for determining administrative sanctions, considering both the nature of the violation and any mitigating or aggravating circumstances applicable to each case. This approach ensures enforcement measures are proportionate to the severity of identified misconduct. Notably, the regulation establishes a five-year transitional implementation period for maximum sanction amounts. During the first year, sanctions are capped at 60 percent of the maximum amount established under the Rule, increasing by 10 percentage points annually until reaching 100 percent at the end of the fifth implementation year. The Rule enters into force upon publication in the Official Gazette, with maximum sanction amounts applied progressively according to the implementation schedule. The SBP reaffirms its commitment to strengthening the banking system, safeguarding financial integrity, and ensuring compliance with national and international standards for preventing financial crimes. The full text of Rule No. 3-2026 is available at www.superbancos.gob.pa.