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Paraguay: President signs regulatory Decree
The Presidency Office of the Republic of Paraguay announced, on 20 January 2020, that the President of the Republic of Paraguay ('the President'), Mario Abdo Benítez, had signed, on 10 January 2020, Regulatory Decree No. 3241/2020 Which Creates the Administrative Registry of Legal Persons and Structures and the Administrative Register of Financial Beneficiaries ('the Decree'). In particular, the Decree will strengthen control in the prevention of money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction, through the provision of tools that favour the adoption of adequate measures of customer knowledge and a risk-based approach. In addition, the Decree takes into consideration the 40 Recommendations of the International Financial Action Task Force, as well as the recommendations of the Global Forum on Transparency and Exchange of Information for Fiscal Purposes of the Organisation for Economic Cooperation and Development.
You can read the press release, only available in Spanish, here.
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