Paraguay Paraguay

New Documents

Paraguay Publishes Congressional Report Implicating Former President to ML, Corruption Crimes (in Spanish)

A legislative commission tasked with investigating money laundering and related crimes in Paraguay published a report connecting former President Horacio Cartes to crimes ranging from cigarette smuggling to money laundering, drug trafficking, weapons trafficking, tax evasion, and bribery.

December 5, 2022

GAFILAT Evaluates AML/CTF Regime of Paraguay

The Financial Action Task Force of Latin America published a new mutual evaluation report concerning the anti-money laundering and counterterrorist financing framework of Paraguay, assessing the country against international standards set by the Financial Action Task Force.

September 9, 2022

Paraguay Supreme Court Partially Grants Appellate Hearing in Hijazi Case (in Spanish)

August 1, 2022

IMF Highlights Progress in Strengthening AML/CTF Regime of Paraguay

April 25, 2022

GAFILAT, Paraguayan Officials Meet to Discuss MER Process (in Spanish)

February 23, 2022

News

Weekly Roundup: FinCEN to Require ‘Effective’ AML Controls, US Officials Preview Potential Sanctions Against Russia, and More

U.S. warns U.K.’s role as illicit finance hub may undermine Russia sanctions, ECB instructs lenders to prepare for economic retaliation against Kremlin, and more, in the weekly roundup.

January 28, 2022

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

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

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 | 2013 Methodology

Technical Effectiveness
Compliant : 17 High : 0
Largely Compliant : 20 Substantial : 1
Partially Compliant : 2 Moderate : 9
Non-Compliant : 0 Low : 1
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