Financial Information Unit Amends Regional Agencies Regime

The Decree No. 85/2023, published on February 20, 2023, amended Article 7 of Annex I of Decree 290/2007, granting the Financial Information Unit (UIF) the power to create the regional agencies necessary to optimize its competence in each region.

Regional Agencies allow the UIF to improve the financial information analysis and the supervision and cooperation with reporting subjects and public and private organizations, to facilitate sending and receiving information. In this way, the UIF collaborates with the prevention of illicit activities arising from money laundering and financing of terrorism, carried out by both national and international organizations.

In this sense, the decree eliminates the limit to the number of agents in each regional agency, and the various requirements that had to be complied with to become an agent.

On February 24, 2023, after the publication of the decree, the UIF decided through Resolution No. 31/2023 to create a regional agency in the Central Region, composed of the Provinces of Córdoba and Santa Fe, with headquarters in the city of Rosario. The location of the headquarters is a consequence of Rosario’s current fight against organized crime in general and drug trafficking and illicit commercialization of drugs in particular, understood as the most significant crimes leading to money laundering.