Argentina

Under Arts. 22–23 of Law 27,401, a legal person that adopts an integrity programme must include at least a code of ethics or conduct, specific rules for tenders and dealings with the public sector, and periodic training. Art. 24 makes an adequate programme a condition for contracting with the national State where the contract needs approval by an authority of ministerial rank or above.

Art. 5 of Law 25,326 makes processing unlawful without free, express and informed consent unless an exception applies, such as public sources, a legal obligation or a contractual relationship. Art. 6 requires prior notice of purpose, recipients, controller and rights; access requests must be answered within ten calendar days (Art. 14) and rectification, updating or deletion completed within five business days (Art. 16).

Law 25,246 Art. 21(a) requires obliged subjects to obtain documents that reliably prove each client's identity, identify the beneficial owner(s) and verify identity against reliable, independent sources. Res. UIF 14/2023 Art. 31 caps the interval between client-file updates at one year for high-risk clients, three years for medium risk and five years for low risk.

Law 25,246 Art. 21(n) requires records that allow individual operations to be reconstructed, due-diligence records, client files, business correspondence and analysis results to be kept for at least ten years, on paper or digitally. Res. UIF 14/2023 Art. 17 applies ten years from the date of the operation to transaction documents and ten years from the end of the client relationship to client records.

Res. UIF 14/2023 Art. 3 requires a risk-based ML/TF/PF prevention system, Art. 9 a compliance manual reviewed every year, and Art. 10(a) that the board appoint a principal and an alternate compliance officer; Art. 11 adds that a compliance officer must be in office at all times. Law 25,246 Art. 21(f) separately requires obliged subjects to designate compliance officers answerable to the UIF.