Paraguay

New Documents

The International Monetary Fund welcomed Paraguay’s recent efforts to strengthen its anti-money laundering and counterterrorist financing framework in its mission concluding statement.

Members of the Financial Action Task Force of Latin America met with officials in Paraguay to discuss the preliminary results from the ongoing mutual evaluation process.

Enforcement Actions

0 Items Found


Key Documents

Important Facts

  • The U.S. State Department classifies Paraguay as a major money laundering country. Paraguay is part of the tri-border area, which is comprised of Argentina, Brazil and Paraguay and is a region associated with multi-billion-dollar illicit goods trade, the trafficking of Andean cocaine, arms smuggling and significant amounts of money laundering. Other money laundering vulnerabilities in the include: a large number of unregistered exchange houses; a primarily cash-based economy in the tri-border area; the use of false or borrowed names to register businesses; lax regulation of import-export businesses and casinos; weak border controls; corrupt, overwhelmed, or untrained government agents; and insufficient oversight of a high-volume of money transfers to Lebanon and China. Criminal organizations often disguise the laundering of illicit proceeds through flows and sales of goods by using corrupt government officials.
-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 3 High :
Largely Compliant : 15 Substantial :
Partially Compliant : 16 Moderate :
Non-Compliant : 14 Low :
Not-Applicable : 1

BASEL i

Rank : 24/141
Score : 6.45/10

TRANSPARENCY INTERNATIONAL i

Rank : 137/179
Score : 28/100

Tax Justice Network i

Rank : 88/133
Score : 77/100