PARAGUAY ADVANCES AML REGULATIONS, BUT FALLS SHORT IN CONVICTIONS AND SEIZURES OF FUNDS
April 21st, 2015
Despite Paraguay’s past difficulties in effectively fighting money laundering, the country has been introducing new regulations to boost its controls; however their reforms’ implementation have been hampered by lack of political will. Located between Argentina and Brazil, Paraguay is a key country in the struggle against money laundering and financing of terrorism in South America because its porous border is used by drug cartels to smuggle drugs, among other illicit items, into the two region’s biggest markets for cocaine and marijuana. Brazilian gangs ...
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