CASSAGNE Consultores remains committed to keeping our clients and followers informed about the most significant developments in Anti-Money Laundering (AML). On this occasion, we share the recent PROCELAC Report (Prosecutor?s Office for Economic Crime and Money Laundering), covering the period 2019/2024, which describes the outcomes of the money laundering convictions in Argentina. ??

? Key Points from the Report:

- 91 Sentences of conviction for money laundering in Argentina since 2019. ??

350 million dollars in fines collected from individuals and companies, with 2021 being the year with the highest fines (over 300 million dollars). ?

- Key activity areas: Ciudad Autónoma de Buenos Aires (CABA) and Provincia de Buenos Aires, as well as Santa Fe, Corrientes, Chaco, and Mendoza. ?

- Most recurrent predicate crimes for money laundering: Drug trafficking, followed by customs crimes and corruption. ?

- Transnationality: 14 money laundering schemes with international connections. ?

- Convictions for Self-Laundering (laundering proceeds of their own crimes): 183 people. ?

- Money Laundering for Third Parties (launderer not involved in the predicate crime): 128 people. ?

- Penalties imposed: Includes fines and prison sentences ranging from six months to three years. ?

- Location of Sentences: Distributed across 9 provinces, with notable presence in Mendoza, Santa Fe, and Chaco. ?

- Abbreviated Trials: 64% of the sentences were from abbreviated trials. ??

- Corporate Entities: 22 corporate entities' personhood cancellations from 2019 to 2024. ?

- International Cooperation: Argentina has participated in money laundering schemes with connections to North America, Europe, and the Caribbean. ?

- Impact on the financial system: The report concludes that there are no strategic deficiencies in the fight against these crimes that pose a risk to the international financial system. ?

At CASSAGNE Consultores, we assist our clients throughout the process of implementing and maintaining their AML policies to ensure they are not involved in money laundering cases and comply with current regulations. ??

We invite you to learn more about money laundering and the preventive policies you must implement as an obliged entity.

Visit our website (https://lnkd.in/dV4B9EBQ) and/or self-schedule a consultation with our head through our booking link: ?https://lnkd.in/dvikcFJX

? Access the full report (only in Spanish) here: https://lnkd.in/d47iiRcM

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