date of birthnationalityidentification numberaddresstelephone numberpassport numberTrue Name
date of birthnationalityidentification numberaddresstelephone numberpassport numbertrue name
taxpayer registration number,business addressTelephone numbershareholder listexecutive list
Cedula de Identidad
Law No. 4017/2010 on legal validity of the electronic signature; documents JOB/GC/97/Rev.3 and JOB/GC/98
2011
1997 and 2011
Secretaría de Prevención de Lavado de Dinero (”SEPRELAD”) (The Ministry for Anti Money Laundering)
www.seprelad.gov.py/
Secretaría de Prevención de Lavado de Dinero (”SEPRELAD”) (The Ministry for Anti Money Laundering)
www.seprelad.gov.py/
www.seprelad.gov.py/
Resolution N° 349/2013 and N°411/2013
No
No
During the year 2014, Paraguay received a visit from the International Monetary Fund (“IMF”) (El Fondo Monetario Internacional (“FMI”)) and the Inter-American Development Bank (“IDB”) (Banco Interamericano de Desarrollo (“BID”)) in order to evaluate the implementation of the Strategic Plan of SEPRELAD that was launched in 2013.
Yes
Yes. Due diligence procedures are not required on transactions below USD10,000.
birth date; nationality; National Identification number (cédula de identidad) or passport number; Registro Unico de Contribuyente (“RUC”) if applicable, which is the Taxpayers Identification Number); marital status and spouse’s name (if applicable); home and business address; telephone number; profession; occupation; and commercial references.
entity name; activity; Regístro Unico de Contribuyente (“RUC”), which is the Taxpayers Identification Number; business address; telephone number; shareholders list; executives list;
commercial references; and entity constitutive documents.
The following three situations require financial institutions to collect additional information about beneficial ownership: a) when the client informs the institution that the final beneficiary is another person or entity; b) when the financial institution has doubts about the final beneficiary; or c) when the customer engages in commercial, financial or industrial transactions in a location where they have no operations. No requirements are established around verification of this data
Enhanced due diligence arrangements are required for transactions above the USD10,000 threshold.
There are specific requirements to classify the customer as high risk. Its operations must be approved by the highest authority of institutions to establish due diligence procedures to apply, including spouses,
relatives and relatives up to fourth degree of consanguinity or second degree of affinity. Non-profit organisations are also included.
The correspondent must be approved by the highest authority of the institution; he/she must know the nature of the activities of the correspondent, and evaluate the policies and procedures to prevent money laundering and terrorist financing implemented by the correspondent. On account transfers through correspondents, have evidence that preventative measures have been implemented and due diligence procedures performed on transfers.
No
The entity must develop policies and procedures relating to prevention to avoid the use of technological devices to perform operations related to Money Laundering and Terrorist Financing (“ML/TF”), as well
as keeping up to date computer platforms.
The Secretaría de Prevención de Lavado de Dinero (“SEPRELAD”) (The Ministry for Anti-Money Laundering)
www.seprelad.gov.py
Institutions must also report suspicious transactions, fund transfer operations to and from other countries (transfers, exchanges, cash, cheques or any other payment method), as well as physical remittance of money
Yes. Anything below USD10,000.
Yes
Yes
No
No
Yes. Resolution N° 349/2013.
once a year
SEPRELAD and the Central Bank of Paraguay
No
The test involves checking the process followed by the bank regarding how it complies with the regulations, based on Know Your Customer/Client requirements. It is equivalent to the process performed in Uruguay.
Yes
No
No
SEPRELAD
N/A
Mandatory
http://www.novaparaguay.com/nota.asp?n=2009_10_23&id=11093&id_tiponota=11
Yes
No
Yes
ML/TF
No
Yes
PYG 57,138,685
10000
N/A
Secretaría de Prevención de Lavado de Dinero (”SEPRELAD”) (The Ministry for Anti Money Laundering)
Yes
According to law, financial institutions should always verify original identification documents. However, for legal entities, there are some documents that can be provided as copies, if those copies are certified
by a notary public officer.
Yes. Law N° 861/96, for Banks, Financial Institutions, and other Governmental Entities.