Panama: Data Protection Notice

What is held, and on what basis

The Panama entity holds identification documents, ownership and control records, tax residence declarations, settlement instructions, transaction and valuation records, correspondence, meeting notes and the access logs of the client portal. Each processing activity appears in the group processing register with its origin, its lawful basis, its retention period and a named owner. The firm buys no personal data from data brokers, builds no behavioural profile of a client, and draws no inference about an individual that the mandate does not require. Client data is never sold, and it is never used to train a model that serves another client.

What an individual can require

Any individual whose data the firm holds may ask what is held, ask for a copy, ask for a correction, object to a particular use, or ask for deletion where no retention rule requires the record to be kept. Requests go to privacy@iguako.tech and are answered within 30 days, without charge, whatever the size of the relationship. Where a decision has been assisted by a model, the client may require that a person take the decision again, and the office in Panama City arranges that review within ten business days. A refusal is explained in writing and names the rule relied on.

Where the data goes and how long it stays

Client records sit on group systems and are copied to the regional hub that holds Panama records, under the intra-group transfer agreement binding every entity in the network. External processors, principally administrators, custodians and auditors, receive only what their function requires, and each is engaged on written terms carrying the same standard. Data is encrypted at rest and in transit, and access to client records is logged and reviewed monthly. Records are kept for seven years after a relationship ends and are then deleted on a scheduled cycle, not at the discretion of the desk that holds them.

The local regime and the reporting of breaches

Data protection law differs across the 28 domiciles. IGUAKO Capital (Panamá) S.A. records in the group processing register which regime governs its files, which authority supervises that regime, and what the local rule requires beyond the group minimum.

Personal data held in Panama City is processed under the jurisdiction's personal data protection law, which is consent-based, supervised by the national transparency and data-protection authority, and restricts cross-border transfer to countries offering comparable protection or transfers made under written safeguards. The data concerns the directors, signatories and guarantors of corporate borrowers, the controlling persons of co-lenders and the staff of correspondent banks. Regional onboarding files for São Paulo, Mexico City and Montevideo are held here as the Latin America hub copy the group standard describes, and transferred to George Town under written agreement. Requests for access are answered within 30 days, in Spanish or English.

A suspected breach is reported to the Group Data Protection Officer within 24 hours of discovery and assessed within 72 hours wherever in the network it occurs, and the Latin America regional compliance officer is told at the same time.

Personal data is a liability the firm carries on behalf of the people it belongs to, and it is treated that way. The firm collects the minimum the mandate needs, keeps it only as long as a rule requires, and answers for it through a named officer in every jurisdiction where it holds a file.