| YEAR | ENTITY | AMOUNT | DESCRIPTION |
|---|---|---|---|
| 2015 | BANCO AZTECA (PANAMÁ), S. A. | 6,001.00 | For the late submission of the affidavit signed by the Chairman of the Board of Directors, which must be attached to the Financial Statements. |
| 2015 | AUSTROBANK OVERSEAS (PANAMÁ), S. A. | 6,001.00 | For the late submission of the affidavits signed by the Chairman of the Board of Directors, the General Manager, and the senior Financial Officer of the bank. |
| 2015 | BANESCO, S. A. | 400,000.00 | For breaching AML/CFT regulations. - Special examination conducted from November 18 to December 12, 2014 (closing date; October 31, 2014). |
| 240,000.00 | For breaching banking regulations. - Special examination conducted from November 18 to December 12, 2014 (closing date: October 31, 2014). |
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| 2015 | UNIBANK, S. A. | 370,000.00 | For breaching AML/CFT regulations. - Special examination conducted from November 19 to December 5, 2014 (closing date: October 31, 2014). |
| 210,000.00 | For breaching banking regulations. - Special examination conducted from November 19 to December 5, 2014 (closing date: October 31, 2014). |
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| 2015 | CAJA DE AHORROS | 260,000.00 | For breaching AML/CFT regulations. - Special examination conducted from November 24 to December 12, 2014 (closing date: October 31, 2014). |
| 240,000.00 | For breaching banking regulations. - Special examination conducted from November 24 to December 12, 2014 (closing date: October 31, 2014). |
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| 2015 | GLOBAL BANK CORPORATION | 42,500.00 | For breaching banking regulations. - Special examination conducted from November 24, 2014 to January 6, 2015 (closing date: November 18, 2014). |
| 2015 | BANCO UNIVERSAL, S. A. | 1,000,000.00 | For breaching AML/CFT regulations. - Follow-up examination through December 31, 2012, conducted from September 9 to October 4, 2013. |
| 250,000.00 | For breaching Corporate Governance regulations. - Comprehensive examination conducted from July 14 to August 8, 2014 (closing date: March 31, 2014). |
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| 250,000.00 | For breaching Risk regulations. - Special examination conducted from November 24 to December 23, 2014 (closing date: October 31, 2014). |
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| 2015 | BANCO FICOHSA (PANAMÁ), S. A. | 90,000.00 | For breaching AML/CFT regulatioins. - Special examination conducted from January 6 to January 29, 2015 (closing date: December 31, 2014). |
| 60,000.00 | For breaching banking regulations. - Special examination conducted from December 2 to December 17, 2014 (closing date: October 31, 2014). |
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Enforcement – Information updated through July 9, 2023
Enforcement – Information updated through July 9, 2023
As provided for in (a) Article 189 of the Banking Law, which establishes, “The Superintendent is authorized to publish the sanctions imposed in accordance with the provisions of this Decree Law;” (b) Article 77 of Law 21 of 2017, which establishes the rules for the regulation and supervision of Trustees and the trust business and stipulates that “The Superintendent of Banks may inform the public of the fine imposed, either in hardcopy or electronically;” and (c) Article 20(5) of Law 23 of 2015, amended by Law 21 of 2017, that provides “[…] The sanctions imposed hereby will be published on the website of each supervisory entity, stating the name of the sanctioned entity, the type of sanction, and its amount, if the sanction is pecuniary.” Below you will find the pecuniary sanctions of over B/.5,000.00 imposed by the Superintendency in accordance with the Banking Law, Trust Law, and AML/CFT/WMD Law.
The sanctions listed below pertain to concluded processes, the resolutions of which are being administratively enforced. It should be noted that the imposed sanctions result from non-compliance or administrative breaches, and they serve the purpose of corrective actions and the enhancement of the Panamanian banking and trust system. The publication of these sanctions does not indicate a negative view of the supervised entity.