Summary
This document is a guide on the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Paraguay, as established by La Secretaría de Prevención de Lavado de Dinero o Bienes (SEPRELAD). It outlines the rights and obligations of individuals and entities in preventing and detecting money laundering and terrorist financing. The guide details the necessary identity verification requirements, including the attributes needed for identifying individuals from official documents. It also describes compliant Customer Due Diligence (CDD) methods and the documents required for verification, such as identity cards, passports, and utility bills. Additionally, the document emphasizes the importance of timing in the verification process and the need for enhanced due diligence for high-risk customers. It clarifies the responsibilities of clients regarding third-party services and record retention, specifying that data must be retained for a minimum of five years as part of AML and KYC obligations.
