Paraguay: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2009/235, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the detailed assessment report on antimoney laundering and combating the financing of terrorism (AML/CFT) for Paraguay. The assessment reveals that there are significant gaps in Paraguay’s AML/CFT framework, and the level of awareness of money laundering/financing of terror risks is low in both the public and private sectors. The country falls well short of complying with most of the Financial Action Task Force recommendations. There are also no provisions that would allow the authorities to freeze suspected terrorist assets in accordance with the relevant UN Security Council Resolutions.

Keywords: ISCR; CR; business organization; central bank; government agency; compliance officer; due diligence; beneficial owner; Money laundering; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Terrorism financing; South America; Middle East (search for similar items in EconPapers)
Pages: 252
Date: 2009-07-31
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