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Panama Operation Pandora tax fraud

Updated 3 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-05 00:56 UTC → 2026-08-15 02:25 UTC · added removed

In early July 2026 2026, Panama’s fiscal authority and Public Ministry dismantled Operación Pandora, a five‑year five-year scheme that created roughly US$42 million in bogus e‑Tax e-Tax credits. Thirteen people were arrested and about US$40 million was recovered. Subsequent investigations linked the credits to BAC International Bank, which had purchased millions of the fraudulent credits. An internal audit by the Dirección General de Ingresos (DGI) found US$42.4 million in credits used by the bank, of which about US$36 million were improper, expanding the case to seventeen charged individuals, fourteen in provisional detention and three under house arrest. The Panama Chamber of Commerce, Industries and Agriculture warned that the scandal exposed major digital‑system digital-system vulnerabilities and called for independent audits, automatic alerts and a digital custody chain. On 31 July July, a Tribunal de Garantías ordered the provisional detention of Adolfo Cosme Quintero, accused of directing the diversion of funds through Master Eco Green, bringing the total number of suspects to eighteen. The investigation spans three related probes: E-Tax 2.0, Publicano, and Pandora. On 3 August August, the Minister of Economy and Finance, Felipe Chapman, announced that the e‑Tax e-Tax platform will be replaced by a new, fully traceable digital system, alongside internal‑control measures, the separation of implicated officials, a freeze on suspect credit operations and an audit request system to the Comptroller General. The MEF added that the new platform will record every procedure, provide real‑time tracking and eliminate manual steps that allowed manipulation, while manipulation. The MEF also froze all pending suspicious credit applications were frozen applications, dismissed implicated officials, and officials linked requested an audit from the Comptroller General. On 14 August, BAC Panamá announced it would voluntarily join the criminal proceedings to assist authorities with the scheme were dismissed. traceability of operations involving the acquisition of the fraudulent credits. The reforms aim to restore confidence in Panama’s tax administration bank stated that payments were only made after credits were officially certified on the DGI platform and prevent future fraud. clarified that its participation does not constitute an admission of responsibility.

Versions

  1. 2026-08-15 02:25 UTC Panama Operation Pandora tax fraud
  2. 2026-08-05 00:56 UTC Panama Operation Pandora tax fraud
  3. 2026-08-03 13:53 UTC Panama Operation Pandora tax fraud
  4. 2026-08-01 15:05 UTC Panama Operation Pandora tax fraud

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