New Powers for the Financial Information Unit

On 20 February 2023, Decree No 85/2023 (the “Decree”) was published which amended Article 7 of Annex I of Decree No 290/2007, giving the Financial Information Unit (“UIF”) the power to create the necessary regional agencies in order to optimize its competences in each region.

The regional agencies enable the UIF to improve the tasks of analysis of financial information and supervision and cooperation with regulated entities and public and private bodies to facilitate the sending and receiving of information. In this way, the UIF collaborates with the prevention of illicit activities, from money laundering and the financing of terrorism, both by national and international organizations.

The Decree eliminates the limit to the number of agents in each of the regional agencies and the various requirements to be fulfilled to fill these positions.

After the publication of the Decree, the UIF decided through Resolution n.° 31/2023 to create a regional agency in the Central Region, integrated by the provinces of Cordoba and Santa Fe, with headquarters in the city of Rosario.

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