Purpose

This paper aims to evaluate how Argentina’s Financial Information Unit (Unidad de Información Financiera, FIU) has responded after detecting noncompliance with money laundering regulations. Specifically, it identifies the main lessons that can be drawn from analyzing the sanctions that the FIU imposed between 2016 and 2019.

Design/methodology/approach

The issues that this article outlines suggest the need for a substantial rethinking of Argentina’s anti-money laundering regulations. Based on an analysis of the size of sanctions and the time taken to impose them, the study suggests that the regulatory framework in Argentina fails to comply with the international standards that require the imposition of effective, proportionate and dissuasive sanctions.

Findings

This analysis suggests that there are serious issues regarding the regulation of the sanctions that Argentina’s FIU is responsible for imposing. Specifically, the way the exact amount of each fine is determined urgently needs to be redesigned. In other words, the system for establishing fines needs to take the fluctuations that are typical of Argentina’s economy into account.

Originality/value

This paper has demonstrated that it is vital for the country to review its regulatory framework for the prevention of money laundering and to effectively apply sanctions when noncompliance is detected. A successful approach to both objectives will contribute to generate and align incentives to improve compliance levels and to fulfill international standards.

中文翻译：

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太长太低：2016 年至 2019 年阿根廷金融信息部门实施的制裁分析

目的

本文旨在评估阿根廷金融信息部门 ( Unidad de Información Financiera , FIU) 在发现不遵守洗钱规定后如何应对。具体而言，它确定了从分析金融情报机构 2016 年至 2019 年实施的制裁中可以得出的主要教训。

设计/方法/方法

本文概述的问题表明，需要对阿根廷的反洗钱法规进行实质性的重新思考。根据对制裁规模和实施制裁所需时间的分析，该研究表明，阿根廷的监管框架不符合要求实施有效、相称和劝诫性制裁的国际标准。

发现

这一分析表明，阿根廷金融情报机构负责实施的制裁的监管存在严重问题。具体而言，迫切需要重新设计确定每笔罚款的确切金额的方式。换句话说，罚款制度需要考虑到阿根廷经济的典型波动。

原创性/价值

本文表明，该国必须审查其防止洗钱的监管框架，并在发现违规行为时有效实施制裁。实现这两个目标的成功方法将有助于产生和调整激励措施，以提高合规水平并达到国际标准。