Financial Crime World

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Anti-Money Laundering (AML) in Argentina: Final Answers

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Reporting Suspicious Transactions or Activities in Argentina

The process for reporting suspicious transactions or activities in Argentina involves several steps. These include:

  • Conducting appropriate customer due diligence (CDD)
  • Documenting and record-keeping of suspicious transactions
  • Internal review and analysis to assess grounds for suspicion
  • Submitting a report to the Financial Information Unit (UIF) of Argentina
  • Providing detailed information in the Suspicious Activity Report (SAR)
  • Reporting in a timely manner
  • Confidentiality and immunity for reporting entities
  • Cooperation with law enforcement agencies
  • Ongoing monitoring

Compliance with International AML Standards in Argentina

Argentina achieves compliance with international Anti-Money Laundering (AML) standards, such as those set by the Financial Action Task Force (FATF), through several means. These include:

  • Adherence to FATF recommendations
  • Legislation and regulation (e.g., Law No. 25,246)
  • Regulatory oversight by authorities like the UIF and Central Bank of Argentina
  • Risk-based approach to AML/CFT
  • International cooperation with other countries and the FATF
  • Supervision and enforcement by regulatory authorities