Alak urges Senate to pass anti-money laundering bills before year's end

Justice Minister Julio Alak met with the Victory Front caucus in the Senate in order to push two anti-money laundering bills adding that the Government “expects to have both of them passed before year’s end.” 

Both bills are still being debated on the Lower House floor, but Alak insisted that they should both be discussed on the Senate and the Lower House before the end of the year.

“Argentina needs to have a national law that updates the penal system to international standards,” he insisted. 

A few months ago, the Financial Action Task Force (FATF) had recommended Argentina to have stricter laws against money laundering practices and terrorism financing.

“We listened to the minister, we exchanged information and told him that if the bill is preliminary approved in the Lower House, we would try to speed up the vote so we can have a law before year’s end,” the leader of the ruling party caucus in the Senate, Miguel Angel Pichetto, said.