The FIU requires companies to report suspicious operations of Money Laundering.

Money Laundering, or capital laundering, is a mechanism through which funds or assets obtained through illicit activities appear as the result of legitimate activities and can circulate without problems through the legal market.

If I don't do illegal activities, why should I worry?

Because the FIU determines in article 20 of Law No. 25.246 and amendments, that individuals and legal entities that must act as Obliged Subjects. Each of them is regulated by a specific resolution that governs their activity.

What does the FIU resolution provide?

Being an obligated subject according to the Law on Concealment and Laundering of Assets of criminal origin, entail the duty to implement mechanisms to prevent, observe, detect and report to the FIU suspicious facts or operations that could be related to the crime of Money Laundering.

To this end, the obligation to:

  • Designate a compliance officer, who will act as a link between the company and the FIU and formalize procedures for the prevention of Money Laundering
  • Implement “Know your client” policies
  • Elaborate transactional profiles of clients
  • Train staff on Money Laundering
  • Implement technological tools for the identification of suspicious operations
  • Report suspicious transactions detected to the FIU
  • Implement internal audits to verify effective compliance with procedures.

Services that Grant Thornton can offer

We participate in the implementation of the requirements of the FIU in leading companies and our services ensure an orderly framework, optimizing the investment.

  • Training in prevention of money laundering
  • Technology and systems consulting for the implementation of monitoring and alerts
  • Reengineering of processes
  • Analysis and management of suspicious operations
  • Standards and policy consulting
  • Independent external reviewers.