? NEW TECHNICAL REPORT FROM ARGENTINE FINANCIAL INTELLIGENCE UNIT (FIU) ON RISK SELF-ASSESSMENTS 2025 ??
? In keeping with our ongoing commitment to inform and support our clients and followers in the rigorous fulfilment of their obligations concerning Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF), CASSAGNE Consultores highlights the recent release by the Argentine FIU of the ?Technical Report on Risk Self-Assessments 2025.? This report analyses the quality of the Technical Risk Self-Assessment Reports (IT AER) submitted by reporting entities during 2024.
? What is the FIU´s purpose of this report?
To reinforce a culture of evidence-based risk management by promoting best practices through targeted feedback to supervised sectors. With the report the FIU also seeks to identify key findings, progress made, and opportunities for improvement, thereby enhancing the quality and effectiveness of the national AML/CTF prevention system.
? Key highlights of the report include:
? Consolidation of the Risk-Based Approach (RBA): Updated in accordance with FATF Recommendation 1 and its recent revisions, emphasising proportionality, financial inclusion, and the use of simplified measures according to the risk level.
? Mandatory risk tolerance declarations and the obligation to submit a separate IT AER for each regulated activity, supported by methodology, documentation, statistical data, and validation by the entity's governing body.
? Frequent shortcomings identified in the 2024 reports:
- Absence or inadequacy of risk assessment methodology.
- Incomplete analysis of risk factors (client, geography, product, delivery channel).
- Weaknesses in the evaluation and specificity of mitigating controls.
- Limited use of statistics and insufficient analysis by business line.
? Recommendations on best practices: The UIF provides clear criteria on how to structure an effective IT AER, including minimum content requirements, periodicity, risk weighting, adoption of new technologies, and forward-looking analysis.
? Sector-specific statistics: All sectors demonstrated progress. The capital markets sector showed the most significant improvement (37%), followed by financial institutions (25%), credit card operators (22%), and insurance entities (13%).
? We invite all stakeholders to read the full report here ? https://lnkd.in/dF-QzPGS
? To learn more about how to implement an effective prevention system, properly draft your ITAEB, and ensure full compliance with the new regulatory standards, visit our website ? https://lnkd.in/dRDCs42Q
? Schedule a direct meeting with our principal consultant via our online booking platform ? https://lnkd.in/dvikcFJX
? At CASSAGNE Consultores, we help transform your regulatory compliance into a strategic advantage. ?