The American Bar Association Rule of Law Initiative (ABA ROLI), in collaboration with implementing partners K2 Integrity and GovRisk, worked with the Paraguayan Secretariat for the Prevention of Money Laundering and Asset Forfeiture (SEPRELAD) to organize a series of impactful training sessions for anti-money laundering (AML) and countering the financing of terrorism (CFT) supervisors from several public institutions. With 58 participants from various institutions, these sessions took place from March 7 to 10, 2023 and occurred as part of the ABA ROLI’s Countering the Financing of Terrorism in South America Program. The sessions’ primary objective was to strengthen the supervisory government institutions responsible for overseeing obligated entities in their anti-money laundering efforts. Obligated entities are individuals or entities, such as financial institutions, which are legally required to comply with AML regulations and actively participate in efforts to prevent money laundering and terrorism financing.
The workshop critically focused on, among other topics, the adoption of a risk-based approach to supervision. The event aimed at enhancing the supervision of financial and non-financial institutions in combating money laundering and terrorism financing. Participants engaged in in-depth discussions on topics such as terrorism risk analysis, targeted financial sanctions enforcement, and effective supervisory strategies.
Renowned international consultants Alejandro Montesdeoca and Farida Paredes shared their expertise through informative sessions. Montesdeoca, who previously contributed to the Financial Action Task Force on Money Laundering (FATF) in Latin America, and Paredes, the current head of the Financial Intelligence Unit of Peru, provided valuable insights and guidance.
Representatives from SEPRELAD, the Supreme Court of Justice, the Superintendency of Banks, the Superintendency of Insurance, the National Institute of Cooperatives, the National Gambling Commission, and the Electoral Justice actively participated in the training sessions. They had the unique opportunity to learn from the expertise of these consultants.