Skip to main content

« All Events

  • This event has passed.

BO training for Panama

27 September 2023 - 3 October 2023

Details

Start:
27 September 2023
End:
3 October 2023
Event Category:

Venue

Panama
Panama + Google Map

Organiser

Key Expert on Beneficial Ownership: Alexandre Taymans

Empowering Transparency: EU Global Facility wraps up Four-Day Training on Beneficial Ownership in Panama

The EU Global Facility on Tuesday 3 October wrapped up an enlightening four-day training on “Transparency of Beneficial Owners in Panama: Implementation and Management of BO Registries.”

The week kicked off with a sub-regional conference that brought together representatives from Chile, Colombia, Jamaica, Trinidad and Tobago, alongside Panama. The event spotlighted crucial topics, from evolving BO Registry regulations to practical application, public-private partnerships, and challenges in final BO registration and verification. This conference laid the foundation for a dynamic four-day training, equipping stakeholders with the insights and strategies needed to bolster transparency and combat money laundering.

Throughout the training, the EU Global Facility emphasised the importance of international standards and the critical role played by local institutions in ensuring transparency. Our experts facilitated discussions on FATF and EU BO disclosure standards and engaged the audience with hands-on exercises, equipping participants with the knowledge and skills needed to navigate the challenges of AML/CFT risks and work collaboratively with their clients.

“The knowledge and skills acquired during this training will empower these local institutions to recognize and address the complexities of BO transparency effectively. We are excited to witness their commitment to enhancing accountability and combating AML/CFT risks in their region,” said Key Expert on BO for the EU Global Facility Alexandre Taymans.

The participants later delved into international standards on BO requirements and identification, highlighting the role of the Superintendence of Non-Financial Subjects in ensuring compliance. The training unpacked the crucial requirements for resident agents to gather, verify and upload BO information and studied the frameworks for disclosure of BO information by Designated Non-Financial Businesses and Professions (DNFBPs).