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SEPRELAD reports it has not prohibited such transactions and has committed to working with individual banks as well as banking consortiums to clear up any misunderstanding or overly strict interpretation of AML regulations.
institutions, and it increases SEPRELAD's power to audit financial
In 2014, SEPRELAD continued to implement the National Plan for Anti-Money Laundering and Countering Terrorist Finance (AML/CTF).
SEPRELAD is still developing procedures to implement this expanded requirement.
Banks, finance companies, insurance companies, exchange houses, stock exchanges and securities dealers, investment companies, trust companies, mutual and pension fund administrators, credit and consumer cooperatives, gaming entities, real estate brokers, nongovernmental organizations, pawn shops, and dealers in precious stones, metals, art, and antiques are required to file suspicious transaction reports (STRs) with Paraguay's financial intelligence unit (FIU) within SEPRELAD. There is no reporting threshold.
However, the Ministry of Foreign Affairs provides the Central Bank, SEPRELAD, and other government entities with the names of suspected terrorists on the UNSCR 1267 Sanctions Committee's consolidated list.
The USG funded the participation of SENAD, the Secretariat to Combat Money Laundering (SEPRELAD), and the Specialized Anti-Piracy Unit (UTE) agents at seminars on information sharing; illicit traffic of goods and trademark fraud; and money laundering.
The UAF began operating in 1997 within the Secretariat to Combat Money Laundering (SEPRELAD), under the auspices of the Ministry of Industry and Commerce (MIC).
In addition to confirming the UAF's role as the sole FIU, the new legislation establishes SEPRELAD as an independent secretariat or agency reporting directly to the Office of the President.
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- Sepp, Evgenii
- Sepp, Evgenii Konstantinovich
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