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How is cooperation between the private sector and government authorities in Panama encouraged to strengthen verification in risk and sanctions lists?
In Panama, cooperation between the private sector and government authorities is encouraged through communication and exchange of information. Authorities, such as the Superintendency of Banks and the Financial Analysis Unit, maintain dialogue channels with the private sector, including financial institutions, to share guidelines, best practices and regulatory updates. Active participation in working groups, committees and consultation groups contributes to strengthening collaboration. Furthermore, transparency in processes and effective communication are essential to building a relationship of trust and promoting continued cooperation in the prevention of illicit activities.
How are tax deductions for donations and charities handled in Ecuador?
Tax deductions for donations and charities in Ecuador can encourage contributions to social causes. Taxpayers who make donations can benefit from specific tax deductions, but it is crucial to follow the requirements and procedures established by the SRI to qualify. Correct documentation and communication with entities receiving donations are key elements to maximize the tax benefits associated with charitable works.
What law regulates the notification process in administrative procedures in El Salvador?
The notification process in administrative procedures is governed by the Administrative Procedures Law, establishing the procedures to notify the parties involved in these processes.
What is the obligation of financial institutions regarding the maintenance of records related to politically exposed persons in Guatemala?
Financial institutions in Guatemala are required to retain records related to politically exposed persons for a certain period. This allows authorities to conduct audits and verify compliance with anti-money laundering and terrorist financing regulations.
What is the main legislation that addresses money laundering in Panama?
In Panama, Law 23 of 2015 and its subsequent amendments are the main legislation that addresses money laundering and terrorist financing.
What measures are taken to protect the information collected during the KYC process?
Institutions must implement security measures such as data encryption, restricted access, and security controls to safeguard customer information.
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