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What rights do food debtors have in Panama?
Alimony debtors in Panama have the right to be properly notified of claims and to present evidence of their financial circumstances should they wish to modify alimony.
What is the process for identifying and verifying clients who are politically exposed persons (PPE) in Paraguay?
Politically exposed persons (PPE) in Paraguay are subject to more intensive due diligence. Financial institutions must identify PPEs, verify their identity and continuously monitor their activity. This is to prevent the risk of corruption and money laundering.
Can the embargo in Panama be lifted if the debtor presents a viable restructuring plan?
Yes, the embargo in Panama can be lifted if the debtor presents a viable and convincing restructuring plan. If the debtor demonstrates to the court that it has a concrete and realistic plan to meet its financial obligations and resolve the outstanding debt, the court may consider lifting the lien to allow the debtor to implement the restructuring plan and make the agreed payments.
What is the list of high-risk countries and territories in terms of money laundering in Panama?
The list of high-risk countries and territories is a classification used in Panama to identify jurisdictions with significant deficiencies in their systems to prevent and combat money laundering. Transactions with entities in these jurisdictions may be subject to heightened scrutiny and enhanced due diligence measures.
Can assets related to money laundering activities be frozen in Panama?
Yes, authorities can take steps to freeze assets related to suspected money laundering activities while an investigation is underway.
What are the due diligence measures that financial entities in Peru must follow?
Financial entities in Peru must implement due diligence measures to identify and know their clients. This involves obtaining verifiable information about the identity of clients, assessing the risk of money laundering, monitoring transactions carried out and reporting any suspicious activity to the FIU.
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