- High risk: a closely watched sector.
- Buyer and beneficial owner verified.
- Evidence per transaction, exportable.
Sell with legal backing, not with risk exposure
Law 23 of 2015 requires car dealerships and vehicle sellers to apply due diligence. Akifue helps you comply before closing each sale. See the guide to Law 23 of 2015 and what the FIU (UAF) is.
- Identify and verify the buyer. Check them against OFAC, UN, EU, UK and PEP lists before transferring the vehicle.
- Detect red flags. High-value cash payments, buyers acting in the name of third parties or unusual behavior.
- Keep evidence per transaction. Exportable case file that shows the diligence carried out before the FIU and oversight bodies.
Screening in seconds
Search the buyer against all relevant sources —OFAC, UN, EU, UK and PEP— with a single click and a clear result.
Case file per transaction
Every sale is documented with date, responsible analyst, result and comment. Evidence ready for any review.
The vehicle sector: in the regulator's sights
Cars are high-value assets, easy to transfer and with an active secondary market. That makes them an attractive channel for money laundering.
Cash payments
Cash vehicle transactions for large amounts are a priority red flag that requires enhanced verification of the buyer.
Beneficial owners
When a third party buys on behalf of another person, you must identify the real beneficial owner and apply the same diligence to them.
Obligated entity by law
Law 23 of 2015 explicitly includes vehicle sellers. Non-compliance can lead to administrative penalties and the closure of the business.
Evidence that stands up to audits
With Akifue every transaction is recorded: who verified, when, against which sources and what the decision was. Ready to present to the FIU.
Sample result
A sale with no matches is approved and kept with its evidence. See the scope of each plan in plans and pricing.
| Check | Result |
|---|---|
| OFAC · UN · EU/UK · PEP | No matches detected in any of the sources searched (CLEAR) |
| Analyst decision | Approved, no remarks · M. González · Jun 15, 2026 · evidence saved · PDF report |
Frequently asked questions
Are vehicle sellers obligated entities in Panama?
Yes. Under Law 23 of 2015, individuals and companies engaged in buying and selling vehicles are non-financial obligated entities and must apply due diligence measures to their customers.
From what amount must I apply due diligence?
Panama’s FIU (UAF) sets specific thresholds for cash transactions. Regardless of the amount, you must always identify the buyer, check them against sanctions lists and PEPs, and keep evidence of that verification.
Why is the vehicle sector high risk for AML?
Vehicles are high-value assets that can be used to place illicit funds. Cash payments, multiple buyers and transactions in the name of third parties are frequent red flags in this sector.