LATIN AMERICA
identified by the Obligated Entities. The standards applied to monitoring systems implemented shall be confidential except for those parties that take part in the monitoring, control, revision, design, and programming thereof as well as those individuals that provide assistance in furtherance of compliance thereof. The methodology to determine monitoring rules and standards shall be documented. The Resolution includes specific provisions applicable to unusual transactions and the way these should be handled and recorded (article 38). The record of unusual transactions shall include, at least, the following: (i) customer full name and surname, and associated risk level; (ii) customer profile; (iii) identification of the operation and/or transaction (product and amount); (iv) date, time, and origin of the red flag or any other system to identify the transaction to be analyzed; (v) type of unusual conduct or operation (description); (vi) reviewing analyst; (vii) measures implemented for red flag resolution purposes; (viii) date and final grounded decision. A documentary support of this record should be kept in accordance with the provisions of the Resolutions. Regarding suspicious transaction reports (STRs), the Resolution maintains the rules that were in force prior to its enacting. STRs should be filed (i) within 15 calendar days as from the date on which the Obligated Entity concludes that the operation should be considered suspicious; and no later than 150 calendar days as from the date of actual or attempted performance of the money laundering suspicious transaction. In the event of a FT suspicious transaction, the term to report it to UIF is reduced to 48 hours as of the actual or attempted transaction. Information schemes and penalties
2 and March 15. This Annual Systematic Report report must include the following: • general information (company name, address, activity, AML/CFT Compliance Officer); • corporate organizational structure / information; • accounting information (revenue by activity); • business information (products/services/ distribution channels/geographic area); and • information about types and number of customers On the topic of penalties, those included provided by Chapter IV of Law No. 25,246, or any such other rules as may amend, supplement, or replace them in the future, shall be of application (article 41). Important upcoming deadlines As mentioned above, the Resolution is in effect as of December 1, 2023. Notwithstanding this, there are some special provisions governing the entry into force of some of the new obligations incorporated by the Resolution. These specific deadlines are listed below. • March 1, 2024: deadline to implement the KYC and due diligence measures to online gaming customers 8 . • January 2, 2025 to March 15, 2025: deadline to file the first Annual Systematic Report, which shall cover the period 2024. • April 30, 2026: deadline to file the Self- Assessment Report and the applied methodology covering periods 2024 and 2025. The risk tolerance declaration should also be filed on or before this date.
TOMÁS E GARCÍA BOTTAS Partner, MF Estudio, Argentina For information contact +54 9 11 3462-1801 tomas@mfestudio.com.ar
Along with the Monthly Systematic Report 7 the Resolution also provides that an Annual Systematic Report must be filed between January 7 Referring to transactions equal to or exceeding an amount equivalent to 15 MVMW 8 All player files should be complete by this date if the operator wishes to keep on doing business with the customer in question • August 31, 2026: deadline to file the initial independent external review covering periods 2024 and 2025
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IMGL MAGAZINE | JANUARY 2024
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