5 Provisions Cited Do Not Refer to Large Transaction Reporting Or Cross Border Movements
YES / NO / DRAFT / IN FORCE / PROPOSED
CREATION OF A CRIMINAL OFFENCE (A.1-C.1) / / Law No. 1015/97 (criminalizes money laundering when the offence is committed by criminal gangs or terrorist groups, and for proceeds from crimes committed under Law No. 1340/88 which penalizes narcotic and dangerous drug trafficking)
`FORFEITURE A.2.b (i) / / Law No. 1015/97, Arts. 5, 6 and 7
FINANCIAL INFORMATION (sharing of information by competent authorities (A. 3 a (i)) / / Law No. 1015/97, Art. 22 (financial institutions should collaborate with the appropriate authorities who oversee transactions otherwise protected by bank secrecy, unless prevented from doing so by a judge in a trial)
FINANCIAL INFORMATION (authorization of financial institutions to provide information to authorities on their clients (C.2. a (i )) / / Law No. 1015/97, Art. 22 (financial institutions should collaborate with the appropriate authorities who oversee transactions otherwise protected by bank secrecy, unless prevented from doing so by a judge in a trial)
FINANCIAL INFORMATION (information exchange between courts/ authorities pursuant to international agreements) (a.3.b (i)- C.2.b (i) / / The reply does not refer to treaties per se, however, it is noted that Law No. 1015/97, Arts. 33 and 38, authorize information exchanges under conventions and international agreements and direct judges to collaborate with requests for information from judicial counterparts in other countries
FINANCIAL INFORMATION (direct information exchange through international agreements (C.11.)) / /
Agreement for cooperation in the prevention and control of money laundering from the illicit trafficking of narcotics and psychotropic substances between Paraguay and the United States (Law No. 374 of 1994).
LEGAL ASSISTANCE, (government authorized to respond to requests for legal assistance from other governments (C.6.)) / LEGAL ASSISTANCE (government authorized to exchange evidence and information in money laundering investigations/prosecutions and for asset forfeiture (C.12.)) / [1]
SHARING OF FORFEITED ASSETS (C.7.) / [2]
INVESTIGATIVE TECHNIQUES (C.8.) / [3]
FINANCIAL TRANSACTION RECORDS (requirement to keep and maintain clear and complete records (C.10)) / / Law No.1015/97, Arts. 17, 18, 20, 21 (require the keeping and maintenance of records, confidentiality, internal control)
EVALUATION AND RECORD-KEEPING (basis or forum for evaluating funds transfer systems and, on the basis of the evaluation, record-keeping measures for f.i.’s and wire transmitters (D.6)) / / Law no. 1015/97, Arts. 26 and 28 (establishes responsibility in the Secretariat for the Prevention of Money and Asset Laundering)
EXTRADITION (C.13.) / [4]
SUSPICIOUS TRANSACTION REPORTING (D.2.) / / Law No. 1015/97, Arts. 19 and 23 (require the reporting of suspicious transactions, a special regime of duties is set out)
LARGE TRANSACTION RECORDING/REPORTING (D.3.) / [5] / Law No. 1015/97, Arts. 12, 19 and 21 (require the recording of transactions over $10,000, suspicious transactions, and set out control procedures)
REGULATORY/OVERSIGHT AGENCIES (authority to supervise and impose administrative sanctions (D.4.)) / / Law No. 1015/97, Arts. 26 and 28 (establish and set out the attributes of the Secretariat for the Prevention of Money or Asset Laundering)[6]
ANALYSIS AND EVALUATION OF ANTI-MONEY LAUNDERING LAWS AND OF MONEY LAUNDERING METHODS (D.5.) / / Law No. 1015/97 which creates the Secretariat for the Prevention of Money or Asset Laundering)
NATIONAL FORFEITURE FUND (E.2) / / Law No. 1015/97, Art. 37 (destiny of forfeited assets, objects and instrumentalities)
CENTER FOR THE COLLECTION, ANALYSIS AND SHARING OF INFORMATION (related to money laundering (E.3)) / / The Secretariat for the Prevention of Money or Asset Laundering created by Law No. 1015/97
TRAINING (E.5) /
[1]No reply.
[2]Idem
[3]Idem
[4]Idem
[5]Provisions cited do not refer to large transaction reporting or cross border movements
[6]Art. 29 of Law No. 1015/97 provides for the regulation and sanctioning of administrative actions by the agencies responsible for supervision and oversight.