The Central and the UIF urge the banks to expedite the arrival of cash deposits

Aligned with the spirit of the new standardboth organizations maintained that they should have savings outside the system, especially in foreign currencyis a “rational” consequence of an inflationary economy and that those who have decided to do so do not commit any crime. “As international organizations have stated, In economies with a history of high inflation and exchange rate volatility, holding foreign currency in cash constitutes economically rational behavior. aimed at preserving the value of assets. “This circumstance does not constitute, by itself, an indication of illegality nor does it justify its automatic classification,” they explained.

This is a key point: until now, despite the regulations of the new Law, entities were wary of receiving dollars from their clients indiscriminately, and claimed to becompliance regulations of their parent companies abroad and international anti-money laundering standards.

“The Anti-Money Laundering regulations do not prohibit cash deposits, regardless of their amount,” the statement clarified. “Nor does it require requesting information about the origin of funds online as a condition for accepting a deposit. The regulatory obligation is limited to the identification of the depositor and the holder when the amount exceeds 40 minimum vital and mobile wages.”

In this way, both organizations introduced a key idea: It is not even necessary, from the point of view of the banks, to request adhesion to the Simplified Profit Regime to be able to receive dollars from their clients. “Decree 93/2026 of 02/08/2026, which regulates Law 27,799, urges obligated subjects to consider the “Adhesion of a taxpayer to the Simplified Affidavit Regime as a favorable precedent in their risk analysis”they detailed.

In this senseboth the UIF and the Central “passed the ball” to the banks to improve their analysis mechanisms for their clientss, but without asking them for too much extra information. “When the origin and application of funds are consistent with the declared activity and the economic profile of the client, and the amount involved is less than the threshold established for the configuration of the crime of tax evasion, it may be unnecessary to require additional documentation when, in accordance with the comprehensive risk analysis carried out by the obligated subject, no relevant inconsistencies are identified in line with a reasonable EBR (Risk-Based Approach),” the paper clarified.

“The Obligated Subjects must carry out a comprehensive analysis of the clientwhich takes into account its characteristics, its transactional behavior and the nature and reasonableness of its operations, and not limit its evaluation to an exclusive consideration of its tax or fiscal profile,” the statement stated.

The Government seeks to speed up the arrival of dollars from savers to banks, as a gateway to the formal economy. According to INDEC calculations, Argentines would have more than US$245 billion in safe deposit boxes or in homes, undeclared foreign accounts and other financial assets also abroad.