Paraguay Congress widens cyberfraud requests

In recent days, Paraguay’s Congress expanded its information requests to the Central Bank of Paraguay, focusing on bank mergers, public funds deposited in private institutions, and allegations of alleged cyberfraud. The resolutions cover Banco Itaú Paraguay, Banco Atlas and other financial supervision processes, with response deadlines of 15 business days in some cases.

What did the Senate ask the BCP?

The Senate approved a resolution asking the BCP to provide detailed information on Banco Itaú Paraguay S.A. and on bank merger processes, along with other aspects of financial activity. The chamber requested background on administrative proceedings, sanctions or ongoing investigations tied to user complaints about cyberfraud and failures in information security risk management.

The request also seeks data on cybersecurity controls, audits and technical inspections carried out by the Superintendency of Banks during 2025 and 2026. According to La Nación, the BCP has 15 business days to respond.

What did the legislative expansion cover?

The Senate’s expansion included regulatory benefits granted in the mergers of GNB, Sudameris, Continental and the Atlas-Familiar proposal. It also specifically added sanctions, controls and administrative investigations involving Itaú, as well as complaints sent to the Attorney General’s Office over possible cyber-related criminal conduct attributed to employees at the bank.

In parallel, the full Senate approved by majority additional information requests to the BCP on merger processes, deposits of public funds and IPS funds in private banks, and other financial activities. La Nación reported that the institutions asked to respond have 15 days to do so.

What happened in the Chamber of Deputies with Banco Atlas?

The Chamber of Deputies approved a resolution asking the BCP to explain why, despite sanctions, warnings, audits and criminal cases linked to Banco Atlas, there would be no administrative proceedings underway against the bank. The request broadens parliamentary scrutiny of another bank under review for possible irregularities in supervision.

Lawmakers also submitted and secured approval of an information request on alleged money laundering at Banco Atlas. That request seeks details on audits, actions taken and measures adopted by the supervisor in response to fiduciary transactions and background tied to the bank.

Banco Atlas issued a public statement in ABC Color saying it is fully willing to cooperate with the Chamber’s resolution proposal. It also said it agrees with initiatives that bring clarity and transparency to actions carried out within the financial system.

What warning did the BCP issue about digital scams?

The BCP denied investment recommendations attributed to its officials and warned about false messages and posts promising financial returns through links, social media or messaging apps. The institution urged people not to click on links from doubtful sources, not to transfer or deposit money to people or companies whose legitimacy cannot be verified, and to confirm any offer before sharing data or funds.

Paraguayan business outlets also noted that the BCP’s official warning fit into a broader narrative about digital risks in the financial environment. In that context, the legislative debate on banking supervision and cyberfraud was shaped by public alerts about possible scams and by information requests aimed at clarifying how the regulator responded to those complaints.

What context did the leaked Rivarola report provide?

The leak of the so-called Rivarola report on Ueno Bank showed that warnings about the institution’s balance sheet had been formally documented by BCP oversight bodies. ABC Color said those warnings were not limited to private conversations between banking figures and analysts.

That added context to internal tensions in financial supervision and possible technical disagreements within the regulator, amid the stream of information requests approved by Congress. The common thread remains control of financial risk, with the cyber component becoming increasingly present in the parliamentary debate.