• The findings and conclusions of the different National Risk Assessments (NRAs) and Sectoral Risk  Assessments (SRAs) are reasonable to a certain degree and allow for an understanding of the country's  risks in terms of money laundering (ML) and terrorist financing (TF). The above mentioned, has been  reflected in Paraguay’s Strategic Plan (PEEP) for their mitigation, prioritisation, and monitoring. 

Notwithstanding this, due to the difference between the methodologies used, in some cases there were  no sufficient statistics or data to support the results obtained. Moreover, there are no sufficient insights  into certain internal risks and particular activities and sectors. This situation was amended to some  extent through the functioning of the Inter-agency Committee and its role as coordinator of policies  and the updating of the PEEP.

• Regarding the understanding of the risks and the application of preventive measures by the different  reporting entities, it is observed that the sectors with the greatest exposure and the most representative  sectors have an acceptable knowledge of the ML/TF risks. However, this is not the case with sectors  considered of lower materiality, or which have been recently regulated, such as lawyers and  accountants, dealers in precious metals and jewels, and virtual assets service providers VASPs. 

• Paraguay has supervisors for the financial, DNFBP and VASP sectors, who have conducted efforts  for these sectors to take measures to mitigate ML/TF risks that reporting entities might face. In line  with the above, supervision is applied with a Risk Based Approach (RBA) in the financial sector, but  only recently has it been applied for DNFBPs and VASPs. 

• Supervisors have the power to apply sanctions and remedial actions directed at the reporting entities. 

No sanctions have been applied to the DNFBPs. However, the remedial actions applied to real estate  agencies and money remitters have had a positive impact in addressing non-compliance with  AML/CFT obligations.

• Sectoral risk assessments have been developed for the entities that represent a higher risk for the  country, such as money remitters and real estate agencies. In addition, the country has recently made  changes in the regulations of real estate agencies and gambling, and has issued new regulations for  motor vehicle importers, dealers in jewels and precious stones, and lawyers and accountants. 

Notwithstanding this, there are opportunities for improvement in supervision and monitoring in  DNFBPs, in particular with respect to those recently designated as reporting entities and to the notaries  sector, since there is not enough information regarding their supervision.