Thus, through Resolution 56/2024, published this Tuesday in the Official Gazette, the Government of Javier Milei modified various points of current legislation, specifically the definitions of important terms such as “suspicious facts and operations” and “unusual operations“, as well as changes in the deadlines and forms of presentation of the Suspicious Operation Reports.
Likewise, the official text details the requirements and procedures that Obligated Subjects must follow when reporting suspicious transactions to the FIU. These requirements include relevant information, the substantiation of suspicions, the deadlines for sending reports and the confidentiality of the information provided.
Definitions
Suspicious Operations: events or operations attempted or carried out that give rise to suspicion or reasonable grounds to suspect that the goods or assets involved come from or are linked to a criminal offense or are related to the financing of terrorism, or to the financing of the proliferation of weapons of mass destruction or thathaving previously been identified as unusual, after the analysis and evaluation carried out by the obligated subject, do not allow the unusualness to be justified.
Unusual Operations: are those operations attempted or carried out in an isolated or repeated manner, regardless of the amount, that lack economic and/or legal justification, and/or are not related to the client’s risk level or transactional profileand/or that, due to their frequency, regularity, amount, complexity, nature and/or other particular characteristics, deviate from the uses and customs in market practices.
Deadlines for reporting
- Money Laundering: 24 hours since the Obligated Subject concludes that the operation has such a character. The reporting date may not exceed 90 calendar days from the date on which the operation was carried out or attempted.
- Financing of Terrorism: 24 hours from the date of the operation performed or attempted.
- Financing the Proliferation of Weapons of Mass Destruction: 24 hours from the date of the operation performed or attempted.
Reporting requirements
According to the official text, the reports must include all the data and documents that allow the FIU to appropriately use the information.
The reports must be substantiated and contain a description of the reasons and/or unusualities for which the Obligated Subject considers that the operation has such a character.
Reports must be confidential. The Resolution comes into force upon its publication in the Official Gazette of the Argentine Republic.
Likewise, the official text It also establishes that external reviewers Independent parties will be able to access information on unusual operations and suspicious operations, with the condition that the information provided omits any content that makes it possible to identify those involved.
Finally, the Resolution modifies and updates the definitions of “Suspicious Operations” and “Unusual Operations” in the framework of the fight against Money Laundering, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction.
Source: Ambito
