This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT) measures in place in the Republic of Paraguay (hereinafter, Paraguay) at the date of the on-site visit that took place from August 23 to September 3, 2021. It analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of the country's AML/CFT system and makes recommendations on how the system could be strengthened.