Paraguay Strengthening Efforts Against Money Laundering and Terrorism Financing
In recent years non-profit organizations have been used for corruption purposes, Alcaraz explained
Paraguay is taking steps to comply with the recommendations of the Latin American Financial Action Task Force (Gafilat) in the fight against money laundering, terrorist financing, and the proliferation of weapons of mass destruction. These adjusting measures aim to enhance the country’s AML/CFT system by 2028, focusing on prevention, detection, investigation, repression, and asset confiscation.
After being placed under intensified monitoring by Gafilat, Paraguay is working to follow priority actions outlined in the report to avoid a decline in international rankings. The Money Laundering Prevention Secretary highlighted the need for updating and modifying the action plan, with a new emphasis on tackling money laundering, especially through non-profit organizations.
With a new bill approved by Congress to increase transparency in these entities, Paraguay is committed to improving its AML/CFT framework and meeting Gafilat’s priority actions. The government continues to be monitored by Gafilat to ensure effective implementation of these measures.