Paraguay

New Documents

US, Paraguay Update Strengthen Mutual Assistance Agreement

U.S. Customs and Border Protection announced that it has updated a 2002 customs mutual assistance agreement with Paraguay to enhance the countries’ ability to share information on cross-border matters.

July 20, 2020

ICE, Paraguay Officials Participate in Money Laundering Training

The U.S. Department of Homeland Security’s Office of Immigration and Customs Enforcement issued a press release highlighting a recent training it held for 37 officials from various Paraguayan law enforcement and other agencies to combat transnational money laundering organizations.

June 22, 2016

Basel Institute Announces Partnerships for Training in Financial Investigation, Asset Recovery

December 7, 2015

State Department Issues Joint Statement on Cooperation with Paraguay

June 18, 2015

Poland’s FIU Signs AML/CTF Agreements with Three Countries

October 2, 2014

News

Midweek Roundup: Germany Tells Piraeus Bank to Improve Compliance, Paraguay Investigates Banco Nacional de Fomento, and More

Jersey fines three institutions, Norway drops DNB graft probe, and more, in the midweek roundup.

February 18, 2021

Midweek Roundup: Julius Baer Inks FIFA Settlement, Paraguay Imposes Record Fine on Banco Itaú, and More

Latvia penalizes Regional Investment Bank for AML breaches, U.K. attorney has license withheld for due diligence lapses, and more, in the midweek roundup.

November 11, 2020

Midweek Roundup: FinCEN Asks Banks To Flag Delays in Filings Amid COVID-19 Outbreak, Pandemic-related Frauds on the Rise, and More

March 18, 2020

Weekly Roundup: US Lawmakers Flag AML Lapses at Deutsche Bank, Former Goldman Banker Hit with UK Forfeiture, and More

September 6, 2019

Midweek Roundup: United States Settles Magnitsky Fraud Case, Wells Fargo’s Fake Accounts Settlement in Peril, and More

May 17, 2017

Enforcement Actions

0 Items Found

Key Documents

Paraguay Enacts Anti-Money Laundering Law

January 10, 1997

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 : 137/180
Score : 28/100

Tax Justice Network i

Rank : 88/133
Score : 77/100