Paraguay: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

July 31, 2009

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Format: Chicago

Paraguay: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2009) accessed December 21, 2024

Summary

This paper discusses assessment results on the observance of standards and codes on the Financial Action Task Force (FATF) recommendations for antimoney laundering and combating the financing of terrorism (AML/CFT) for Paraguay. The assessment reveals that the substantial U.S. dollar contraband trade that occurs on the borders shared with Argentina and Brazil facilitates money laundering in Paraguay. Achievements in the implementation of Paraguay’s AML framework remain modest since the criminalization of the money laundering offence in 1996. The level of implementation and compliance with respect to the FATF recommendations is low in the financial sector.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing

Keywords: AML law, AML Law, AML regime, AML regulation, Anti-Money Laundering, Anti-money laundering and combating the financing of terrorism (AML/CFT), CR, Due diligence, Financial institution, Government, ISCR, Legal support in revenue administration, Middle East, ML offense, Money laundering, Offense, Paraguay, South America, Terrorism financing, TF offence

Publication Details

Pages:

17
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/234
Stock No:

1PRYEA2009003
ISBN:

9781451832594
ISSN:

1934-7685

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