Argentina’s Compliance with International Anti-Money Laundering (AML) Standards

Introduction

Argentina has made significant efforts to achieve compliance with international Anti-Money Laundering (AML) standards set by the Financial Action Task Force (FATF). This article provides an overview of how Argentina achieves compliance with these standards.

Key Steps towards Compliance

To address the question more directly, we can identify four key steps that Argentina takes to achieve compliance with international AML standards:

• Adhering to FATF Recommendations: Argentina adheres to FATF recommendations through its AML/CFT legislation (Law No. 25,246) and subsequent amendments.
• Robust Regulatory Oversight: Argentina implements a robust system of regulatory oversight, including regular assessments and examinations of obligated entities.
• Risk-Based Approach: The country adopts a risk-based approach to AML/CFT, which involves assessing risks associated with money laundering and terrorist financing and tailoring measures accordingly.
• International Cooperation: Argentina participates in international efforts to combat money laundering and terrorist financing through information sharing, extradition, and asset freezing.

Conclusion

These steps demonstrate Argentina’s commitment to meeting the FATF’s standards and ensuring a strong AML/CFT regime within its borders. By taking these proactive measures, Argentina is able to maintain compliance with international AML standards and contribute to global efforts to combat money laundering and terrorist financing.