Radiografía del sistema PLD/FT en Paraguay: Cronología, marco jurídico actual y el irreversible derrotero hacia una supervisión basada en riesgos

Abstract

The Republic of Paraguay has navigated a difficult path to comprehensively reform its anti-money laundering and counter-terrorism financing systems. The country's inclusion on the FATF Gray List in 2008, its subsequent removal in 2012, and the strong commitment of the authorities—now reflected in the recently launched National Strategic Plan for AML/CFT—make Paraguay a highly interesting case to analyze. However, the challenges ahead are many. Although enormous progress has been made, the current legal framework—including laws and regulations—still demonstrates vulnerabilities that must be examined and corrected in the short term. The FIU (SEPRELAD) and the Central Bank of Paraguay emerge as key players in the process of implementing a regulatory framework that inevitably leads to a risk-based supervision system. In this sense, the task of ensuring the proper application of the regulations rests with the Superintendency of Banks. At the same time, other challenges will arise with the financial inclusion and banking integration efforts pursued by the Parent Bank. Paraguay is currently immersed in a period of sustainable economic growth, and an effective and reliable AML/CFT system will be an effective instrument to support this process.