Panama Imposes Safety Standards on Banks

Banks must keep videos of people entering and exiting for at least 12 months instead of the current 3 months, among other provisions.

Monday, March 12, 2012

The Superintendency of Banks of Panama has amended Agreement no. A -2007 to update the rules governing the minimum security measures to be adopted by banks, reported

With this new provision, banks are required to establish mechanisms and processes that contribute to the prevention of accidents and criminal acts that may harm the banks and their customers, according to an official statement from the superintendent.

Furthermore, "it has been established, among other things, that banks must have a file of tapes, digital video disc (DVD) or any other recording system covering at least 12 months to record the entry and exit of customers and ATM operations. Currently the recordings are only kept for a period of three months. "

More on this topic

Bank Security Event in Panama

September 2012

Under the theme, "Safety Depends on You", on 26 September the IV National Meeting on Banking Security takes place.

Organized by the Panama Banking Association (ABP), the event will address topics such as:

-Mobile Banking, risks and safety measures in the new financial services model

Regulation on Banking Operational Risk Under Consultation

August 2012

The Superintendency of Banks in Guatemala is calling for public consultation on draft regulations for operational risk management for banking security.

According to an article in the intention is to regulate the minimum measures that banks must observe in the national system for managing operational risk in areas such as technology security, vaulting and customer service, among other things.

Panama: Online Banking Safety

July 2012

The Banking Association and the Superintendency of Banks of Panama have developed a set of standards in order to ensure the security of online banking.

The regulator has set up a department specializing in risk technology that aims to monitor the proper implementation of existing rules governing online banking.

More security for Panama's banking system

January 2009

The Superintendence of Banks is implementing the use of new tools and system platforms in order to improve the data transfer system.

According to, "This system consists of each bank preparing the information based on established data structures and then using ITBANK to send it to the Superintendence, thereby improving the transfer of information by 75%.

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