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 grapples with significant challenges related to crime and corruption, despite having established legal frameworks aimed at addressing these issues. The implementation of anti-corruption laws is inconsistent across government branches, and systemic weaknesses in the judicial system hinder effective enforcement, allowing corruption to persist at both provincial and federal levels.

Organized crime is prevalent, with various criminal networks involved in drug trafficking, human smuggling, and cybercrime, often operating with impunity due to corruption and collusion with officials. While there are measures in place to combat these issues, such as asset recovery and anti-money laundering laws, the large informal economy and political complexities complicate efforts to enhance resilience against crime.

Argentina's economy presents a mix of significant investment opportunities, particularly in sectors such as agriculture, mining, energy, and technology, but is currently hindered by high inflation, economic stagnation, and interventionist policies. Since President Javier Milei took office in December 2023, there has been a commitment to liberalize the economy, reduce inflation, and balance the national budget, although challenges like capital controls and a high tax burden remain obstacles for both domestic and foreign investors. The government's recent initiatives, including the revocation of restrictive laws and a focus on enhancing intellectual property rights, aim to create a more favorable investment climate, but the path to achieving macroeconomic stability is still uncertain.