The Secretariat for the Prevention of Money Laundering (SEPRELAD) and Itaipu signed a partnership to fight corruption, tax evasion, money laundering and drug trafficking through a new financial crime analysis software.

The software will allow institutions to access information needed for financial investigations and will make it possible to analyze a large volume of data. This will speed up the task of sharing information held by SEPRELAD with other institutions -such as the National Police- to collaborate in sensitive cases such as kidnappings (preceding money laundering, white slavery or smuggling). It will also allow the Public Prosecutor's Office to coordinate its functions with the Judiciary more efficiently.

Other institutions such as the Undersecretariat of State for Taxation (SET), the National Customs Directorate, the National Anti-Drug Secretariat (SENAD), the National Anti-Corruption Secretariat (SENAC) and the National Secretariat for the Administration of Seized and Confiscated Assets (SENABICO) will also benefit.

The agreement consists of the development of a new software for the Registration of Suspicious Transactions (STR), as well as the acquisition of a software for the analysis of financial crimes (focused on the prevention of money laundering). The amount of the cooperation with SEPRELAD is USD 929,137.

Source: Paraguayan Information Agency