Here is the article rewritten in markdown format with proper headings, subheadings, and bullet points:

Financial Crime on the Rise in Argentina: Understanding the Definition and Regulatory Framework

As the Argentine economy continues to navigate through challenges, the risk of financial crime has become a pressing concern for businesses and individuals alike. In this article, we will delve into the definition of financial crime in Argentina and explore the regulatory framework that governs it.

What is Financial Crime in Argentina?

Argentina’s Criminal Code is the primary law that governs and punishes perpetrators of crimes related to corporate fraud. The code sets out various crimes that carry significant penalties, including fines and imprisonment. However, in recent decades, additional laws have been enacted to address emerging “white-collar” crimes and international commitments.

Corporate or Business Fraud: Civil Liability

Corporate or business fraud can also give rise to civil liability, which requires damage to a specific person to occur. This type of liability is based on the fundamental principle of “alterum non laedere,” or not to injure others, as set out in the Constitution and Civil and Commercial Code. For corporate or business fraud to be considered civilly liable, several elements must be present:

• A breach of a legal or contractual obligation constituting an illicit act
• The existence of actual damage
• A sufficient causal relationship between the illicit act and the damage
• Negligence or wilful misconduct from the damaging party

Financial Crimes in Argentina

In Argentina, financial crime encompasses a wide range of offenses, including:

• Bribery
• Corruption
• Insider dealing
• Market abuse
• Money laundering
• Terrorist financing

Businesses must be aware of these crimes and take steps to prevent them, such as implementing effective anti-money laundering measures and conducting due diligence on business partners.

Regulatory Framework: Combating Financial Crime

The Argentine government has taken steps to combat financial crime, including the creation of specialized agencies and laws aimed at preventing and investigating economic crimes. However, more needs to be done to address the root causes of financial crime and protect the country’s economy from its devastating effects.

Conclusion

As Argentina continues to grapple with financial challenges, it is essential for businesses and individuals to understand their roles in preventing and combating financial crime. By staying informed about the regulatory framework and taking proactive steps to prevent financial crime, we can work together to build a more transparent and secure economic environment.