PARAGUAY BACKGROUND CHECK

Background screeners are the professionals who are looking into the issue to create contradictions in the organizations related to recruitment and selection procedures during pre/post recruitments. In order to safeguard the reputation of the company, verification services utilized to get the better control over the situation. Background verifications in Paraguay helps the firm in numerous ways which could allow the firms to have smooth progress instantly. Our services can be accesses instantly because few cases need spot solution, if not granted that would result into irreparable losses.

The use of background verification services in Paraguay have resulted into huge success that there are cases registered of verification checks and the firms are doing great in their concerned areas. The verification services are expanded allover Paraguay including various cities like Caaguazu, Ciudad Del Este, Concepcion, Coronel Oviedo, Encarnacion, Pilar, Pedro Juan Caballero, Rosario, San Pedro suncion, and Villarica. These services are excellent for a solution of problems and maintain generous environment in the firms. For any clarification on the issues, join through our website info@backcheckgroup.com.

General Information

GDP USD25.502bn (World ranking 95, World Bank 2012)
Population 6.69 million (World ranking 102, World Bank 2012)
Form of state Constitutional Republic
Head of government Horacio CARTES
Next elections 2018, presidential and legislative

 

CURRENT LOCAL TIME

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PRODUCTS IN PARAGUAY

Data Protection

Data Protection Laws Not Found

Artículo 280.- Soborno del elector

1º El que ofreciera, prometiera u otorgara una dádiva u otra ventaja a otro para que no votara o lo hiciera en un sentido determinado, será castigado con pena privativa de libertad de hasta cinco años o con multa.

2º La misma pena se aplicará al que exigiera, se hiciera prometer o aceptara una dádiva u otra ventaja por no votar o por hacerlo en un sentido determinado.

Artículo 281.- Ambito de aplicación

Los artículos 275 al 280 se aplicarán en los casos de elecciones generales, departamentales o municipales, de los plebiscitos y referendos, así como en las elecciones interno partidarias.

Artículo 302.- Soborno

1º El que ofreciera, prometiera o garantizara un beneficio a un funcionario a cambio de un acto de servicio ya realizado o que realizará en el futuro, y que dependiera de sus facultades discrecionales, será castigado con pena privativa de libertad de hasta dos años o con multa.

2º El que ofreciera, prometiera o garantizara un beneficio a un juez o árbitro a cambio de una resolución u otra actividad judicial ya realizada o que realizará en el futuro, será castigado con pena privativa de libertad de hasta tres años o con multa.

Artículo 303.- Soborno agravado

1º El que ofreciera, prometiera o garantizara un beneficio a un funcionario a cambio de un acto de servicio ya realizado o que realizará en el futuro, y que lesione sus deberes, será castigado con pena privativa de libertad de hasta tres años.

2º El que ofreciera, prometiera o garantizara a un juez o árbitro un beneficio a cambio de una resolución u otra actividad judicial, ya realizada o que se realizará en el futuro, y que lesione sus deberes judiciales, será castigado con pena privativa de libertad de uno a cinco años.

3º En estos casos, será castigada también la tentativa.

Paraguay – Know Your Customer (KYC) Rules

Paraguay is a major drug transit country and money laundering center. A multi-billion dollar contraband trade, fed in part by endemic, institutional corruption, occurs in the border region shared with Argentina and Brazil (the tri-border area, or TBA) and facilitates much of the money laundering in Paraguay. While the Government of Paraguay (GOP) suspects proceeds from narcotics trafficking are often laundered in the country, it is difficult to determine what percentage of the total amount of laundered funds is generated from narcotics sales or is controlled by domestic and/or international drug trafficking organizations, organized crime, or terrorist groups.

Weak controls in the financial sector, open borders, bearer shares, casinos, a surfeit of unregulated exchange houses, lax or non-enforcement of cross-border transportation of currency and negotiable instruments, ineffective and/or corrupt customs inspectors and police, and minimal enforcement activity for financial crimes allows money launderers, transnational criminal syndicates, and possible terrorist financiers to take advantage of Paraguay‘s financial system.

Ciudad del Este, on Paraguay‘s border with Brazil and Argentina, represents the heart of Paraguay‘s “informal” economy, estimated to be double Paraguay‘s $18 billion GDP. The area is well known for arms and narcotics trafficking, document forging, smuggling, counterfeiting, and violations of intellectual property rights, with the illicit proceeds from these crimes a source of laundered funds. Some proceeds of these illicit activities have been supplied to terrorist organizations, and trade-based money laundering occurs in the region.

As a land-locked nation, Paraguay does not have an offshore sector. Paraguay‘s port authority manages free trade ports and warehouses in Argentina (Buenos Aires and Rosario); Brazil (Paranagua, Santos, and Rio Grande do Sul); Chile (Antofagasta and Mejillones); and Uruguay (Montevideo and Nueva Palmira).

Money laundering likely occurs in the formal financial sector and definitely occurs in the non-bank financial sector, particularly exchange houses, which are often used to move illicit proceeds both from within and outside Paraguay into the U.S. banking system. Large sums of dollars generated from normal commercial activity and suspected illicit commercial activity are also transported physically from Paraguay to Uruguay and Brazil, with onward transfers likely to destinations including banking centers in the United States.

KNOW-YOUR-CUSTOMER (KYC) RULES:

Enhanced due diligence procedures for PEPs:

A PEP is an abbreviation for Politically Exposed Person, a term that describes a person who has been entrusted with a prominent public function, or an individual who is closely related to such a person. The terms PEP, Politically Exposed Person and Senior Foreign Political Figure are often used interchangeably

    • Foreign PEP: NO
    • Domestic PEP: YES

Paraguay – KYC covered entities

The following is a list of Know Your Customer entities covered by Paraguayan Law:

    • Banks
    • Finance companies
    • Insurance companies
    • Exchange houses
    • Stock exchanges and securities dealers
    • Investment companies
    • Trust companies
    • Mutual and pension fund administrators
    • Credit and consumer cooperatives
    • Gaming entities
    • Real estate brokers
    • Non governmental organizations
    • Pawn shops
    • Dealers in precious stones, metals, art, and antiques

Paraguay – Suspicious Transaction Reporting (STR) Requirements:

Number of STRs received and time frame: 279 – January 2011 to November 2011

Number of CTRs received and time frame: 1,341,162 in 2010

The following is a list of STR covered entities covered by Paraguayan Law:

    • Banks
    • Finance companies
    • Insurance companies
    • Exchange houses
    • Stock exchanges and securities dealers
    • Investment companies
    • Trust companies
    • Mutual and pension fund administrators
    • Credit and consumer cooperatives
    • Gaming entities
    • Real estate brokers
    • Non governmental organizations
    • Pawn shops
    • Dealers in precious stones, metals, art, and antiques

MONEY LAUNDERING CRIMINAL PROSECUTIONS/CONVICTIONS:

Prosecutions: Five in 2011
Convictions: None in 2011

ENFORCEMENT AND IMPLEMENTATION ISSUES AND COMMENTS:

For reporting entities that do not have a natural supervisory authority, the Secretariat for the Prevention of Laundering of Money or Assets (SEPRELAD) is the competent supervisor. SEPRELAD‘s budget has increased by 166% from 2008 to 2011. SEPRELAD increased its staff approximately 20% in 2011 and has made considerable investment in infrastructure, software up-dates and equipment. The 2011 STR numbers dropped significantly from the 812 reported in 2010 due to the implementation of new software at SEPRELAD that better establishes the requirements for an STR for obligated institutions.

The GOP took a welcomed step forward in regard to implementation of UNSCR 1267 in October 2011 when it passed a long-awaited asset freezing law that enables SEPRELAD to freeze the assets of designated terrorist financiers, or those conducting transactions with UN designated terrorists or terrorist financiers, indefinitely in as little as 36 hours once notification of UN designation is sent or a request from a foreign country relating to UNSCR 1373 is received. The new law complements the June 2010 anti-terrorism legislation criminalizing terrorist financing.

Prosecutors handling financial crimes have limited resources to investigate and prosecute. In addition, the selection of judges, prosecutors and public defenders is largely based on politics, nepotism, and influence peddling. The lack of interagency cooperation throughout Paraguay, and particularly within law enforcement, is an impediment to effective enforcement, prosecution, and reporting efforts.

Asset forfeiture legislation is desperately needed in Paraguay. Apart from the new asset freezing law, Paraguayan law does not provide for freezing or seizure of many criminally derived assets. Law enforcement can only freeze assets of persons under investigation for a crime in which the state risks loss of revenue from furtherance of a criminal act, such as tax evasion. Enforcement agencies have limited authority to seize or forfeit assets of suspected money launderers and do not include bank accounts. When a seizure does occur, law enforcement authorities cannot dispose of these assets until a defendant is convicted, which frequently takes years.

The non-bank financial sector operates in a weak regulatory environment with limited supervision. The organization responsible for regulating and supervising credit unions, the National Institute of Cooperatives, lacks the capacity to enforce compliance. Exchange houses are another non-bank sector where enforcement of compliance requirements remains limited, though following the implementation of additional supervisory measures two currency exchange houses were closed in 2011.

People entering or leaving the country must declare to customs values exceeding $10,000 or its equivalent in other currencies. However, required customs declaration reports are seldom checked. Customs operations at the airports or overland entry points provide little control of cross-border cash movements.

Although Paraguay has made overall progress to improve its AML/CFT regime, and Paraguay‘s efforts and political commitment have been reflected in the issuance of proper legislation, the authorities‘ broader coordination capacity and the strengthening of their institutional frameworks need work. Paraguayan authorities will have to demonstrate the effectiveness of the legislation in force and of several mechanisms put in place.

Risk

Sovereign risk

The public debt remains low, but is rising towards 20% of GDPa key threshold in The Economist Intelligence Unit’s modelon the back of recent fiscal expansion and external bond issuance. Agricultural export dependence will heighten vulnerability to falling global commodity prices, as well as the vagaries of weather conditions.

Banking sector risk

The risk of a rise in bad loans appears to be contained, given the outlook for still-solid GDP growth. Financial soundness indicators appear good, with provisioning improving, bank profitability high and the level of non-performing loans low. There is a high level of US-dollar lending in the banking system, but this is offset by high dollar deposits.

Political risk

The president, Horacio Cartes, secured a governability pact with opposition parties at the start of his term in 2013, but the powerful legislature will increasingly hamper the president’s agenda in the forecast period. Political tensions surrounding the 2012 impeachment of the then president, Fernando Lugo (2008-12), have subsided.

Economic structure risk

Reliance on oil imports and an agriculture-focused export base increase Paraguay’s vulnerability to a deterioration in its terms of trade and to adverse weather. The informal economy remains large.

Travel Risk

Security

The decision to travel is your responsibility. You are also responsible for your personal safety abroad. The purpose of this Travel Advice is to provide up-to-date information to enable you to make well-informed decisions.

Demonstrations and civil unrest

Occasional demonstrations, roadblocks, and strikes occur in the capital and on main highways. Local transportation services can be disrupted and violent incidents may occur. Curfews may also be in effect. Avoid large gatherings and demonstrations, and monitor local news reports. Do not attempt to cross roadblocks, even if they appear unattended.

Crime

Crime has increased in recent years, and some incidents involve violence. Armed robbery, car theft, and burglary occur. Ensure that your personal belongings, passports and other travel documents are secure at all times. Do not show signs of affluence. If attacked, do not resist. Petty crimes such as pickpocketing are prevalent in cities and on public buses. Checked luggage has been pilfered at airports.

In Asunción, be cautious in both unpopulated and overcrowded areas.

Incidents of kidnapping for ransom have been reported. Although foreigners are not specifically targeted, exercise extreme caution at all times, particularly in cities at night.

Never leave food or drinks unattended or in the care of strangers. Be wary of accepting snacks, beverages, gum, or cigarettes from new acquaintances, as they may contain drugs that could put you at risk of assault and robbery.

Road travel

Road accidents are frequent. Traffic laws are frequently ignored and road signs are often lacking. There is no roadside assistance on most highways. Roads in rural areas are generally unpaved and may become impassable during rainy periods. When travelling outside Asunción, avoid night travel, because stray animals and vehicles operating without headlights often pose threats. The number of traffic accidents tends to increase during the holiday season. Be particularly cautious during this period.

Police checkpoints are common, especially at night. Carry identification and vehicle registration at all times. It may be difficult to obtain service in English or French from the local police.

Public Transportation

Travellers using public transit sometimes fall victim to theft or other crimes.

Taxis can be hailed on the street or found at ranks. After dark, however, they should be ordered by phone. Very few taxi drivers speak English or French.

See Transportation Safety in order to verify if national airlines meet safety standards.

General security information

Tourist facilities are good in the capital but may be limited or unavailable in other areas. Mobile telephone services outside urban areas are sparse and poor. In rural areas of Chaco Paraguayo, there is no cellular phone coverage outside of most Mennonite towns.

You should only undertake visits to the Chaco wilderness with an experienced guide because of the harsh environment and risk of encountering dangerous animals. Staying at an estancia (ranch property) is recommended. Because of heavy rainfall and limited infrastructure, hiking trips to remote areas should be carefully planned. Ensure you have proper equipment and sufficient food and water supplies. A travel itinerary should be left with the hotel or with the Consulate of Canada in Asunción.

Visiting most areas populated by indigenous peoples should present no danger, with the exception of the northern area of the Paraguayan Chaco, close to the Mennonite colonies, where the Ayoreo woodland group lives. Some Ayoreos may perceive outsiders as a threat.

Emergency services

Dial 911 or 441-111 for police.

Address Format

RECIPIENT

STREET_NAME HOUSE_NUMBER [, [FLOOR] [APARTMENT]]
POSTAL_CODE LOCALITY
PARAGUAY

Sample

JOSÉ GONZÁLES WASMOSY
INDEPENDENCIA NACIONAL811, PISO 9
1321 ASUNCIÓN
PARAGUAY

Summary

Calendar GMT Reference Actual Previous Consensus Forecast
2014-09-26 06:30 PM Q2 3% 4.1% 4%
2014-12-22 10:15 PM Q3 4.4% 3.1% (R) 2.62%
2015-03-06 05:30 PM Q4 5.8% 4.2% (R) 2.4%
2015-06-05 02:00 PM Q1 5.8% -0.93%
2015-09-04 02:00 PM Q2 0.02%
2015-12-04 02:00 PM Q3 1.53%
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