CASSAGNE Consultores informs clients and followers that the Financial Information Unit (UIF) and the Central Bank of the Argentine Republic (BCRA) have recently issued a joint statement providing guidelines linked to the regulation of Law 27,799 and its complementary regulations (Decree 93/2026 and ARCA Resolution 5820/2026), which ?must be taken into account by reporting entities.?
? The core regulatory message is clear:
Reporting entities must implement the new regime under a Risk-Based Approach (RBA), while all existing obligations related to Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing (AML/CFT/CPF) remain fully in force.
? Key definitions and considerations highlighted in the statement:
- The AML/CFT/CPF framework must be understood within ? and cannot be detached from ? the country?s macroeconomic reality (e.g., physical USD savings driven by Argentina?s historical informality, macroeconomic instability, inflation, etc.).
- The Fiscal Innocence Law introduces a presumption of tax compliance and raises criminal thresholds for tax evasion.
- Enrollment in the Simplified Tax Return regime established by Decree 93/2026 should be considered a favorable factor in risk assessments.
- Holding U.S. dollars in cash does not, by itself, constitute an indicator of illegality and must be assessed based on customer profile and economic rationale.
- AML/CFT/CPF regulations do not prohibit cash deposits nor require inquiry into source of funds at the teller level (except for identifying the depositor when deposits exceed 40 minimum wages).
- Where a transaction is consistent with the customer?s profile and no material inconsistencies are identified, additional supporting documentation may not be required, provided a risk-based assessment is conducted.
- Institutions should avoid assessments based solely on tax-related variables and instead prioritize a holistic customer analysis (behavioral, economic, and transactional).
?? From a practical standpoint, reporting entities are encouraged to:
- Review risk matrices and monitoring models (particularly regarding cash usage).
- Prioritize holistic risk analysis over purely tax-driven criteria.
- Improve alert quality and avoid unnecessary documentation requests when profiles are consistent.
- Properly document risk-based assessments.
Access the statement via UIF: https://lnkd.in/dEe98gsf
? If you would like to assess the impact on your organization, you may schedule a virtual meeting directly with our Managing Partner, Miguel Cassagne, through our online calendar: ? https://lnkd.in/dvikcFJX
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