Government threatens to investigate cash laundering with liqui

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The FIU issued a statement indicating that stock companies, banks, mutual funds and other actors must be alert to suspicious movements

The Government began to move its tokens to frighten investors who make the legal operation of “cash with liquidation” and the MEP dollar, that is to arbitrate assets, from which arises the value of an implicit exchange rate that this Thursday closed at $ 111 ,fifty.

Through a statement from the Financial Information Unit of the Argentine Republic (UIF-Argentina), to which he had access iProfessional, says that the Government “actively observes the increase in the magnitudes in the operations of Cash with Liquidation and MEP Dollar generated in recent weeks” and “exhorts the Mandated Subjects, regulated by UIF Resolutions No. 30/2017 and No. 21/2018, to comply responsibly with its obligations according to an approach based on the risks of Money Laundering and Terrorism Financing that they may implyThe “obliged subjects” that the FIU talks about are those that build this market, that is, financial entities, stock companies, mutual funds, etc.

In that document, to which you had access iProfessional, they add that “the aforementioned Compulsory Subjects are required to use their precautions to adequately assess the risk factors of Money Laundering and Terrorist Financing of these operations in accordance with the regulatory framework established in the aforementioned UIF resolutions, in particular the provisions that require Compulsory Subjects to consider, as a minimum, the following ML / TF Risk factors: a) Customers; b) Products and / or services; c) Distribution channels and; d) Geographical area “.

“Likewise, it should be borne in mind that the aforementioned risk factors are the minimum elements that must be taken into account by the Mandated Subjects to assess their level of exposure to ML / TF Risks, and may develop additional risk indicators that are necessary in every circumstance, “he maintains.

The FIU says that in all cases, “it is necessary to point out the need for the Obligatory Subjects to carry out, in a timely manner, the systematic reports provided for in Article 42 subsections a) and b) of FIU Resolution No. 30/2017 and in the Article 38 subsection a) of UIF Resolution No. 21/2018 “.

It is a way to scare investors. What they want to do is for banks and brokerage companies to report all kinds of operations to see if there are indications that some type of money laundering crime is taking place. This is going to make people buy more dollars, not less, and the gap goes higher. It seems that they do not know how the market works. Also, who is going to launder money in Argentina with an operation that is legal. It’s just to make noise“they said in a leading stock company.

What they say in the market is that with this measure it will return to what was, at the time, the perverse monitoring of the Ministry of Internal Trade by the ineffable Guillermo Moreno and the National Securities Commission – now in the hands of Adrián Cosentino but at that time with the now Anses Alejandro Vanoli- who sent emissaries to the stock companies to investigate those who made the arbitration.

It is to screw, we already experienced this in 2014 especially. It is rare, because in general the excess of controls and audit came to us when other measures failed. What they want with this is that we put a cash breakLet’s talk to customers and tell them … ‘the dogs are following you down the pace … but with reference rates so very low, one goes out and the other enters, “they commented to this medium from one of the most active in the city of Buenos Aires.

“There may be some impact, that the MEP may drop sharply tomorrow and Monday, the buyers air changes, but then everything will come back,” he said.

The FIU statement:

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