TITLE: Argentina's Financial Information Unit Modifies Sanctions Procedure Regulations BODY: On August 16, 2024, Argentina's Financial Information Unit (Unidad de Información Financiera, UIF) issued Resolution 129/2024, which was published in the Official Gazette (Boletín Oficial) on August 19, 2024. The resolution modifies UIF Resolution 90/2024 by replacing Article 1. The amendment approves the "Regulations for Summary Proceedings for the Application of Sanctions Provided for in Chapter IV of Law 25.246 and its Amendments" (Reglamentación del Procedimiento Sumarial para la Aplicación de las Sanciones Previstas en el Capítulo IV de la Ley N° 25.246 y sus Modificatorias). The regulations are attached as Annex I to the resolution (reference IF-2024-83508501-APN-DRAS#UIF). Law 25.246 establishes Argentina's anti-money laundering and counter-terrorism financing framework. Chapter IV of the law addresses sanctions applicable to entities and individuals who fail to comply with financial reporting obligations and other regulatory requirements. The modified regulations establish the procedural framework for applying these sanctions through summary proceedings, streamlining the enforcement process for violations of anti-money laundering obligations. The resolution came into effect upon publication in the Official Gazette on August 19, 2024. Financial institutions, money service businesses, and other entities subject to UIF supervision should review the updated regulations to ensure compliance with the modified sanctions procedures. REFERENCES: Argentina's Official Gazette (Boletín Oficial), Resolution 129/2024, August 19, 2024, Number 35485, Page 51.

RESUMEN - RESOLUCIÓN 129 / 2024 - UNIDAD DE INFORMACION FINANCIERA | Argentina.gob.ar

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