PANAMA

On January 28, President Laurentino Cortizo appointed Víctor Delgado to head up the Superintendency of Non-Financial Subjects, created on January 7 by Law 124. The new body will work in conjunction with the Financial Analysis Unit to prevent financial crimes in institutions not covered by the Banking Superintendency. Delgado, who is already in office, pledged to strengthen the supervision of the legal structures of entities under the control of the Superintendency, implementing the guidelines of the Financial Action Task Force (FATF) in the fight against money laundering. 

Delgado is an attorney with a background in commercial law and over 15 years’ experience in the private sector. He studied law and political science at the Universidad Santa María La Antigua and received a specialization in commercial law from the Universidad Católica de Chile. He also holds a Master’s degree in Political Science from the University of Massachusetts, United States. He served as a lecturer for 18 years and is a member of the Panama Bar Association.

He will be the institution’s first superintendent, tasked with upholding international standards in the area of prevention and money laundering after the Financial Action Task Force (FATF) included Panama on its grey list due to its lack of effectiveness in combating money laundering. Delgado will work towards removing the country from this list at the next FATF evaluation, scheduled in May.