Argentina to Require Companies to Self-Report Money Laundering

Companies in Argentina will now be required to self-report to authorities about suspected money laundering and terrorism financing.

The Argentine government approved new rules Monday that also will bring shell companies and ultimate beneficial owners under the compliance requirements.

The new rules will take effect starting Tuesday and incorporate parts of the international Financial Action Task Force (FATF) guidelines.

Earlier this month, Argentina’s parliament unanimously voted to approve a bill to reform the country’s anti-money laundering bill, which created registers of beneficial owners and service providers.

• “Reporting parties must pay special attention to the risk of people ...