Fraud lawyers in Panama help victims of financial fraud, scams, and investment deception take legal action and recover lost money. If you have been defrauded in Panama or by someone operating from Panama, our legal team can guide you through the legal process and protect your rights under Panamanian law.
Panama is widely recognized in Latin America and around the world as a land of opportunities. Its dollarized economy, the Panama Canal, international banking sector, and strategic logistics position make it attractive for both foreign investors and local entrepreneurs.
However, these same advantages also attract individuals and organizations seeking to exploit others through scams and financial fraud.
Fraudulent activities harm not only individuals but also the confidence in Panama’s financial and commercial systems. A person who loses their savings in a scam may hesitate to invest again, which negatively affects economic activity and investor confidence.
Combating fraud is therefore not only a matter of personal justice but also of protecting Panama’s financial and commercial environment. In this context, the role of fraud lawyers in Panama becomes essential. Lawyers not only file criminal complaints and represent victims but also provide legal guidance and help individuals identify potential scams before falling victim to them.
Although fraud cases are not always widely reported, scams in Panama occur more frequently than many people realize. Many victims do not report fraud because they feel embarrassed, fear being judged, or simply do not know their legal rights.
Common types of fraud reported in Panama include:
Real estate scams often target foreign investors and may involve:
• Sale of properties that do not exist
• Double selling of the same property
• Phantom real estate development projects
• False promises of pre-construction investments
In most cases, the victims did not hire real estate lawyers in Panama to investigate whether the transaction was legitimate.
Financial scams frequently involve promises of unusually high returns or guaranteed profits.
These may include:
• Pyramid schemes
• Fake investment platforms
• Fraudulent financial advisors
• Unregulated investment opportunities
Online fraud has increased in recent years due to digital financial platforms. Examples include:
• Cryptocurrency trading scams
• Online investment fraud
• Banking phishing attacks
• Fake online marketplaces
Some scams rely on personal trust or manipulation, such as:
• Fake business partnerships
• Fraudulent loan offers
• Identity impersonation schemes
Each of these situations may constitute fraud under Panamanian criminal law.
Fraud in Panama is primarily regulated by Article 220 of the Panamanian Penal Code, which defines fraud as:
«Whoever, by deceit, obtains or attempts to obtain an illicit economic benefit to the detriment of another shall be punished with imprisonment from one to four years.»
Three elements must be present for fraud to exist:
The perpetrator deliberately misleads the victim through false promises or misrepresentations.
The offender obtains money, assets, or financial advantage.
The victim suffers an economic loss as a result of the deception.
Panamanian law also establishes circumstances that may increase criminal penalties.
These include situations where:
• Financial losses exceed $100,000
• The offender abuses a position of trust
• Fraud is committed through digital platforms
• Identity theft is used to commit the crime
• Public institutions or charities are affected
Courts may impose higher penalties and greater financial compensation obligations in these cases.
Panamanian law distinguishes fraud from other financial crimes.
A general deception used to obtain financial gain.
A specific form of deception causing direct financial damage.
Misuse of funds entrusted to someone.
Abuse of a professional or personal relationship for financial gain.
Creating or altering documents for unlawful economic benefit.
Correctly identifying the legal nature of the crime is essential when pursuing legal action.
Criminal lawyers in Panama assist victims throughout the legal process.
Legal assistance may include:
• Evaluating the case and identifying possible crimes
• Filing criminal complaints with prosecutors
• Gathering and organizing evidence
• Representing victims during investigations
• Initiating civil lawsuits to recover damages
• Seeking precautionary measures such as freezing bank accounts or seizing assets
Taking legal action promptly can significantly increase the chances of identifying perpetrators and recovering financial losses.
Many fraud cases in Panama involve international investors or cross-border transactions.
As extradition lawyers in Panama, we have seen many cases where fraudsters have international requests against them.
Foreign victims can authorize a Panamanian lawyer through a special power of attorney, allowing legal action without traveling to Panama.
This allows lawyers to:
• File criminal complaints
• Monitor investigations
• Initiate civil claims
• Represent victims before courts and authorities
If you believe you have been the victim of fraud, it is important to act quickly.
Recommended steps include:
Stop all communication with the suspected scammer
Gather all documents and communications
Preserve bank transfer records and financial evidence
Contact a fraud lawyer immediately
File a formal complaint with authorities
Early action increases the chances of asset recovery and successful legal action.
Preventive legal advice can significantly reduce the risk of fraud.
Basic precautions include:
• Verifying companies in Panama’s Public Registry
• Conducting due diligence before investments
• Avoiding unrealistic promises of high returns
• Consulting a lawyer before signing contracts or transferring funds
Prevention is often far less costly than litigation after a fraud has occurred.
Fraud can be reported to the Public Prosecutor’s Office with supporting evidence such as bank transfers, contracts, and communications.
Recovery depends on the assets available and the evidence presented, but legal action may allow victims to obtain compensation or asset seizure.
No. A lawyer can represent you through a power of attorney.
Legal fees vary depending on the complexity of the case and the financial damages involved.
If you believe you have been the victim of fraud in Panama, legal assistance is essential. Experienced fraud lawyers in Panama can evaluate your case, initiate legal action, and pursue strategies aimed at recovering financial losses and holding perpetrators accountable.
Taking action promptly can make the difference between silence and justice.
