Argentina Country Summary

FATF Status

Argentina is not on the FATF List of Countries that have been identified as having strategic AML deficiencies.

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Argentina was undertaken in 2024. According to that Evaluation, Argentina was deemed Compliant for 12 and Largely Compliant for 15 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 1 of the Effectiveness ratings.

Argentina's legal framework for combating corruption includes the Public Ethics Law and the Corporate Criminal Liability Law, but implementation is inconsistent, particularly in the legislative branch. Despite some measures to enhance transparency and accountability, such as financial disclosure laws and the establishment of the Anti-Corruption Office, corruption remains a significant issue, with Argentina ranking poorly on the Corruption Perceptions Index. The country faces challenges from organized crime, human trafficking, and financial crimes, compounded by a politicized judicial system and insufficient enforcement of anti-corruption measures.

Argentina's economy faces significant challenges, including high inflation, recession, and economic stagnation, which have hindered its growth potential. The new administration under President Javier Milei, who took office in December 2023, is working to implement structural reforms aimed at stabilizing the economy and fostering a more market-friendly environment by reducing interventionist policies and addressing the high inflation rate.

Argentina's investment climate is characterized by significant opportunities in sectors such as agriculture, mining, and technology, but is hindered by economic instability, high inflation, and interventionist policies. The new administration under President Javier Milei aims to create a more market-friendly environment by removing some interventionist measures and addressing structural economic issues, although challenges like capital controls and a high tax burden remain. Despite these hurdles, the government is committed to enhancing intellectual property laws and fostering innovation to attract foreign investment.