The present research adopts a comparative documentary analysis approach, a method that involves the detailed and intellectual study of two or more documents to identify similarities and differences, with the aim of generating knowledge, verifying hypotheses, or understanding complex phenomena in a specific context. Carbon markets have emerged as an essential tool in the fight against climate change, by offering economic incentives for the reduction of greenhouse gas (GHG) emissions, initially linked to the Kyoto Protocol (1997). Panama, as a carbon-negative country, has begun to participate actively in these markets, which demands the strengthening of its regulatory framework. However, the growth of the carbon credit market has also generated risks associated with fraud and financial crimes, exacerbated by weak regulations and limited supervision. Although Panama has made progress in regulating the trade of carbon credits, legal gaps persist that allow practices such as money laundering and data manipulation. Faced with this reality, the importance of incorporating forensic analysis as a tool to detect and mitigate fraud is highlighted. Likewise, it is recommended to establish clear guidelines for the certification and verification of credits, as well as the use of blockchain technology and digital platforms that strengthen the traceability, transparency, and monitoring of the market.
