*Argentina’s senate has unanimously passed a law updating its current legislation on the national regulatory system for its Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regime, in accordance with international standards. This change represents “the first substantial modification of the AML/CFT system in thirteen years”, according to a government press release. The new legislation hinges on five axes: modifications to the penal code; reform of Law 25,246, which relates to money laundering; creation of a centralised register of final beneficiaries; establishment of parliamentary control; and creation of a register of virtual asset service providers (PSAV).
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LatinNews Daily - 15 March 2024
In brief: Argentina updates anti-money laundering legislation
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