Open Finance: New Measures to Mitigate Fraud

On August 7, 2025, the Argentine Central Bank (BCRA) issued Communication “A” 8298, introducing new provisions aimed at strengthening controls, preventing fraud, and improving financial risk management.

This new regulation requires that low-value clearing houses (CEC-BV) keep a permanent updated record of all bank account numbers (CBU) and virtual account numbers (CVU) associated with each tax/labor ID (CUIT/CUIL) of individuals holding demand deposit accounts in ARS (provided by financial institutions), and payment accounts offered by Payment Service Providers that Offers Payment Accounts (PSPCP). Special asset regularization accounts are exempted.

In addition, CEC-BV must prepare a daily record that reports each CUIT/CUIL’s number of CBU and CVU openings and closings during the last 12 months. These records must be made available to financial institutions and PSPCPs through an automated programming interface (API).

Based on this information, institutions must implement procedures to identify higher-risk clients and perform enhanced risk analysis on them. This evaluation will be applied particularly when individuals are detected to hold a number of accounts inconsistent with their transaction history, declared activity, or other criteria defined in the institutions’ internal policies or in customer due diligence regulations.

With these measures, the BCRA seeks to provide the financial system with new monitoring tools to detect suspicious transactions and strengthen user security. At the same time, the regulation marks a major step toward the development of Open Finance in Argentina, by establishing a shared registry among different actors in the financial system.