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This documentary and exploratory research set out to understand a phenomenon that evolves faster than the law itself: digital financial crimes in Panama between 2020 and 2025. The objective was to look beyond statistics, to pause on the definitions proposed by doctrine and technical reports, and to place them in dialogue with the lived realities of institutions, businesses, and citizens in the digital sphere. The study relied on a qualitative and reflective approach. It reviewed national legislation, international reports, academic literature, and records of cyber incidents. Rather than seeking a definitive truth, it aimed to understand how technological, legal, and social dimensions intertwine in the expansion of cybercrime. The results reveal a steady rise in attacks such as ransomware, phishing, and online fraud, as well as a troubling gap: while technology advances exponentially, legal responses move at a much slower pace. However, the enactment of Law 478 of 2025 and the forthcoming ratification of the Budapest Convention represent a firm step toward a more effective prosecution of digital crimes. In conclusion, the country is making progress, yet much remains to be refined. Strengthening criminal law, training
judicial specialists, and—above all—rethinking the balance between surveillance and privacy are urgent needs. Every technological advance, without ethics or oversight, risks becoming a new form of human vulnerability.
