Argentina’s New Anti-Money Laundering Law #25.246, Effective May 16, 2000

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Friday, December 1, 2000
Bruce Zagaris
The Republic of Argentina recently passed new anti-money laundering legislation which radically alters the country’s approach to controlling financial crime. For many years one of the few countries that restricted the crime of money laundering to situations involving illegal drug proceeds, Argentina now applies money laundering penalties to the proceeds of any crime. This expansion of the definition of money laundering has important domestic and international consequences. In the United States, the interaction between the new Argentine legislation and the proposed expansion of the list of specified unlawful activities called for in the Levin Bill could have a profound impact on correspondent banking relationships between United States and Argentine institutions...[more]