In Paraguay, it is common for banks or financial institutions to buy credit portfolios from companies or people that are not supervised by the BCP, such as supermarkets, household appliance sellers, farmers, and others. Considering this, on March 22, 2018, the BCP issued Resolution 14/18, establishing rules for the purchase by banks, financial or other supervised entities of consumer credit portfolios to persons or companies not supervised by the BCP.
Hence, under Article 5 (e), before making the purchase, the intervening bank or financial institution must ask the seller from whom it will acquire the credit portfolio, all the required documentation in accordance with the regulations of the Secretariat for the Prevention of Money or Asset Laundering ("SEPRELAD").
In turn, under Article 13, the parties involved in the operation must apply the money laundering prevention rules applicable to obliged subjects, such as banks and financial institutions, with emphasis on the client's due diligence policy and the final beneficiary.