Paraguay updates action plan to comply with Gafilat recommendations

Asunción, Agencia IP.- The Executive Branch has updated and modified the annex of the Action Plan to comply with the recommendations of the Latin American Financial Action Task Force (Gafilat) as part of the country’s fourth round of mutual evaluations.

Through Decree No. 2463/2024, the Presidency of the Republic has updated and modified the annex of Decree No. 9012, dated March 22, 2023, to fulfill Gafilat’s recommendations.

This update and modification to the Action Plan will be incorporated into the Paraguayan State’s Strategic Plan (PEEP), approved by Decree No. 11.200/2013. It will serve as the National Strategy dedicated solely to implementing the Mutual Evaluation Report (MER) recommended actions.

The document enables technical continuity for the work already carried out, reaffirming Paraguay’s high-level political commitment to fighting money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

The decree outlines Gafilat’s recommended actions, the measures to be taken, and the mechanisms to be promoted in the short and long term. These are based on indicators and objectives assigned to the institutions within the Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) system according to their competencies and mandates. It also specifies the prioritization level, organized around key action areas: prevention, detection, investigation, repression, and asset confiscation.

Among the most significant modifications in the new decree is the extension of the intensified monitoring period (2023-2028), which also prioritizes the tasks and responsibilities assigned to each of the institutions that make up the National AML/CFT System. This aims to ensure full compliance with the strategic actions required to strengthen the AML/CFT regime.

It is worth noting that, due to the mutual evaluation, the country entered an intensified follow-up process, which involves frequent and ongoing monitoring of the measures taken to address the priority actions and recommendations. These are now part of the key action plan outlined in the referenced decree.

These represent the indicators and action criteria that will be systematically implemented to address the actions linked to each immediate outcome (11 outcomes) according to the assigned priority, ensuring that Paraguay continues strengthening its AML/CFT Systems.

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