IMF Staff Country Reports

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

July 31, 2009

Download PDF

Preview Citation

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 November 13, 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:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2009/234

  • Stock No:

    1PRYEA2009003

  • ISBN:

    9781451832594

  • ISSN:

    1934-7685

You May Also Be Interested In...

Violent Crime and Insecurity in Latin America and the Caribbean: A Macroeconomic Perspective

November 11, 2024

Citizens Perceptions of Tax Authorities and Tax Efficiency

November 8, 2024

The Federal Democratic Republic of Ethiopia: First Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

November 4, 2024

Kenya: Seventh and Eighth Reviews Under the Extended Fund Facility and Extended Credit Facility Arrangements, Requests for Reduction of Access, Augmentation and Rephasing of Access Under the Arrangements, Modifications of Performance Criteria, Waiver of Nonobservance of Performance Criteria, and Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Kenya

November 1, 2024