FIU Argentina and the Banks that joined the Public-Private Partnership further their Joint Agenda


The second meeting of Fintel-AR, the public-private partnership between the FIU and the main reporting banks of the Argentine financial system took place today at the FIU headquarters.

In line with the initial agenda, and ahead of FATF’s money laundering and terrorism financing (ML/TF) mutual evaluation set for later this year, the working agenda was centered on assessing ML/TF threats that the Argentine banking sector is exposed to. In this context, participants reviewed historical datasets related with predicate offenses of money laundering available at the FIU’s databases, where public corruption, drug trafficking and tax evasion stood out, among others.

Additionally, it was agreed to continue working on improving the existing template used for the submission of suspicious activity reports (“SARs”) and the development of a best-practices guide to support the ML/TF self-assessments that banks are required to submit under existing regulations.

Lastly, it is worth mentioning that there was unanimous agreement on the effectiveness and importance of the public-private dialogue for the prevention of ML/TF in the Argentine financial system.