Argentina’s Approach to Anti-Money Laundering (AML) Compliance

Argentina has implemented a comprehensive approach to achieve compliance with international AML standards set by the Financial Action Task Force (FATF). This approach includes adherence to FATF Recommendations, legislation and regulation, regulatory oversight, a risk-based approach, and international cooperation.

Key Components of Argentina’s AML Framework

• Adherence to FATF Recommendations: Argentina aligns its AML framework with the FATF’s recommendations, which serve as the global benchmark for AML and counter-terrorist financing efforts.
• Legislation and Regulation: Argentina has enacted comprehensive AML and CFT legislation to address the FATF’s recommendations. The primary legal framework is Law No. 25,246, known as the “Anti-Money Laundering Act,” and subsequent amendments.
• Regulatory Oversight: Regulatory authorities, including the Financial Information Unit (UIF) and the Central Bank of Argentina, oversee the implementation of AML measures. These authorities issue regulations, guidelines, and directives to ensure compliance with FATF standards.

Risk-Based Approach

Argentina has adopted a risk-based approach to AML/CFT, as recommended by the FATF. This approach involves assessing the risks associated with money laundering and terrorist financing and tailoring AML measures accordingly.

International Cooperation

Argentina actively participates in international efforts to combat money laundering and terrorist financing. It is a member of the FATF and adheres to its mutual evaluation process, which assesses the effectiveness of a country’s AML/CFT regime.

Conclusion

By implementing these measures, Argentina demonstrates its commitment to complying with international AML standards and effectively combating money laundering and terrorist financing.