NEWS: IMF Says Argentina Dollar Measures Must Comply with AML Schemes - AML Intelligence

The IMF spokesperson warned that any measure must comply with anti-money laundering commitments. The International Monetary Fund (IMF) warned Luis Caputo that any plan to relax fiscal controls must comply with anti-money laundering commitments. "What I can say about the announcements regarding undeclared assets at this time is that we are closely monitoring the evolution of this issue and, of course, the team will be ready to provide an assessme…

The agency's spokesperson stressed that the authorities had committed themselves to respecting "financial transparency" and international standards on the subject.

The agency highlighted the "impressive results" of ultra-right management, but warned that new announcements must respect international regulations that establish transparency frameworks and prevent money laundering and the financing of terrorism.

The official stressed that the Argentine authorities “have committed themselves to strengthening financial transparency and also to align Argentina’s framework for combating money laundering and financing of terrorism (AML/CFT) with international standards, as well as to deregulating the economy in order to promote its formalization.” In that sense, Kozack concluded that “any new measures, including those that may be aimed at promoting the use o…

According to the fund, the measures announced by the Milei government to formalize “mattress dollars” could compromise international standards for combating money laundering.

The International Monetary Fund (IMF) recalled this Wednesday the need that the flexibility in the use of undeclared dollars announced by the Government of Argentina should be consistent with the transparency frameworks that the country committed itself to respect. “The authorities (argentinas) committed themselves to strengthening financial transparency and also to aligning Argentina’s anti-money laundering and terrorist financing framework wit…