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Can a debtor request a payment agreement after the auction of seized assets in Chile?
After the auction of seized assets, a debtor can still seek a payment agreement with the creditor to cover the remaining debt if possible.
What customer identification procedures are applied in Panama to prevent terrorist financing in the money transfer sector?
In the money transfer sector, procedures for customer identification, reporting of suspicious transactions and continuous supervision are applied.
What is the process to request the review or cancellation of judicial records in Peru in the case of foreigners?
The process to request the review or cancellation of judicial records in Peru in the case of foreigners generally involves submitting a request to the Judiciary or the National Police, following the procedures established for foreigners. The application must meet legal requirements and may require payment of fees. If the conditions and requirements are met, registrations may be canceled or reduced.
How does the Panamanian government communicate the sanctions imposed on entities that fail to comply with background check regulations?
Sanctions are communicated through official notifications, publications in government records, and, in some cases, through the media to inform the public about actions taken.
What are the laws that regulate the procedures for obtaining operating permits for financial entities in Panama?
Obtaining operating permits for financial entities in Panama is mainly regulated by the Banking Law of 1970 (Law 9), which establishes the legal framework for the operation of banking entities in the country. In addition, the Superintendency of Banks of Panama issues specific regulations that complement this law. Complying with these provisions is essential for financial entities to operate legally in Panama and comply with the safety and soundness standards of the financial system.
What is the review and evaluation process for due diligence in the prevention of money laundering in the Dominican Republic?
Conduct regular due diligence reviews and adjust procedures in line with changing regulations and emerging threats
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