Financial Crime World

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Evaluating Progress on SEPRELAD Project Objectives

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Summary of Key Findings

The following summary highlights key points related to the four project objectives outlined in an evaluation report.

Project Objective 1: Increasing Effectiveness of SEPRELAD’s Analysis and Reporting

  • Success Achieved: The Evaluation Committee Team (ECT) achieved significant success in improving SEPRELAD’s analytical and reporting capacity, as acknowledged by counterparts and advisors.
  • Risk-Based Approach: The development of a risk-based approach to analysis and reporting helped improve the quality and relevance of reports.

Project Objective 2: Improving AML/CFT Regulations and Supervision

  • Progress Made: The ECT made progress in developing a new law on anti-money laundering and combating the financing of terrorism (AML/CFT).
  • Challenges Encountered: However, challenges arose in implementing the new law and ensuring its effectiveness.

Project Objective 3: Improving AML/CFT Case Development and Creating a Financial Crimes Working Group

  • Success Achieved: The ECT established a financial crimes task force (or working group) to develop a case-tracking mechanism and operations manual.
  • Challenges Faced: Despite initial success, challenges emerged in maintaining momentum and ensuring the sustainability of this effort.

Project Objective 4: Developing an Asset Forfeiture and Recovery Program

  • Progress Made: The ECT developed an asset recovery manual to identify remedies to existing impediments.
  • Challenges Encountered: However, challenges arose in implementing the new law and ensuring its effectiveness.

Conclusion

The Evaluation Committee Team achieved significant success in improving SEPRELAD’s analysis and reporting capacity but faced challenges in implementing and sustaining progress in other areas. The recent GAFILAT Mutual Evaluation Report (MER) of Paraguay’s AML/CFT system supports aspects of the evaluation’s findings and represents a milestone achievement for the country.