Financial Crime World

Regional Security Mechanism Aims to Combat Transnational Crime and Terrorism

Strengthening Cooperation Among Governments

In a bid to combat transnational crime and terrorism, a Regional Security Mechanism (RSM) comprising experts from Argentina, Brazil, Paraguay, and the United States convened for the first time in Asunción, Paraguay on November 12-13.

Regional Security Mechanism: Aims and Objectives

The RSM aims to bolster collaboration among these governments to counter transnational crime and terrorism. The meeting was hosted by the Ministry of Foreign Affairs of Paraguay and brought together investigators, prosecutors, financial analysts, and customs officials from each country.

Key Focus Areas

  • Identifying vulnerabilities exploited by transnational criminal groups, terrorists, and their supporters
  • Developing solutions to address these threats
  • Sharing information to deepen each country’s understanding of the risks posed by terrorists and organized criminal groups
  • Identifying vulnerabilities that these groups are exploiting and developing recommendations to mitigate these risks

U.S. Department of Justice’s Efforts in Paraguay

The U.S. Embassy in Paraguay has been working in the Tri-Border Area (TBA) of Brazil, Paraguay, and Argentina since 2015, providing expert advice on money laundering and terrorism financing.

Recent Developments

  • Paraguay has taken significant steps to combat financial crimes, including the announcement of its own terrorist designations in August
  • The U.S. Department of Justice’s efforts have led to the development of a domestic terrorist designation regime in Argentina
  • Argentine authorities are increasingly using undercover officers, informal sources of information, cooperating defendants, and interagency task forces to advance investigations involving complex crimes and criminal organizations

The Way Forward

The RSM’s first meeting at the expert level marks an important step in strengthening cooperation among governments in combating transnational crime and terrorism. The initiative is expected to continue providing technical assistance, staff training, and better information exchange between participating countries.