New customer due diligence guide supports risk management
The Central Bank of the Argentine Republic and the Financial Information Unit have relaunched their joint working group and issued guidance on the 'Customer's Customer' concept. The framework aims to align anti-money laundering practices while preventing undue financial de-risking.
Building blocks for counterparty oversight
Meeting on August 13, 2026, at the central bank headquarters, officials including BCRA Director Silvina Rivarola and FIU President Matías Álvarez presented the new regulatory framework to financial sector compliance officers.
Formulated within FIU Resolution No. 96/2024 by a multi-agency panel comprising the FIU, BCRA, CNV, SSN, and INAES, the guide establishes four fundamental operational pillars.
First, structured cooperation between obliged entities with clearly assigned responsibilities.
Second, a proportional risk-based approach tailored to counterparty profiles.
Third, enhanced due diligence regarding counterparty anti-money laundering controls.
Fourth, systematic monitoring to flag unusual transactions.
Tackling de-risking without compromising security
The relaunched FIU-BCRA Working Group seeks to address the growing challenge of indiscriminate de-risking, where institutions terminate business relationships to avoid regulatory risk.
By standardizing the "Customer's Customer" concept, Argentine regulators aim to prevent wholesale financial exclusion while maintaining system integrity.
This joint effort reinforces inter-institutional coordination across banking, insurance, securities, and cooperative sectors to establish clear, unified compliance benchmarks across Argentina's financial system.
Necessary clarity, uncertain impact
Clarifying nested customer ties is a crucial step against blanket financial exclusion.
Yet guidelines alone will not eliminate friction unless banks move away from defensive account closures.
The framework's true test lies in flexible enforcement that protects integrity without choking legitimate access.