According to regulations issued by the Central Bank of Argentina and the local Anti-Money Laundering regulator (UIF-Unidad de Información Financiera), individuals who act as an authorized representative to operate accounts are required to provide personal information and a copy of identity documents to their bank(s) for identity verification purposes.
What does this mean for our Clients?
These regulations are applicable to CitiDirect BE users with Payment Authorization ability, and Payment Initiators when there is no Authorizer in the flow (hereafter called Payment Authorizer).
In this context, an additional control validation has been set in place in CitiDirect BE where a regulatory warning is sent to the Security Managers upon their submission of an on-line entitlement request (i.e. creation of a new user and/or change entitlement rights). The user’s function to permit payments authorization in Argentina’s accounts will be activated only when the Payment Authorizer comply with proof of identity requirements.
Failure to comply with the regulatory requirements by May 31, 2021 may result in being revoked from ability to approve payments from accounts opened with Citibank N.A. Argentina Branch.
For more information on Argentina regulatory requirements, and support to submit your documentation to Citibank N.A. Sucursal Argentina, please refer to the information below or contact your local CitiService representative for assistance.
For Argentina clients:
Toll Free +0810 777 1500 or Local call +5411 4329 1500
Email address: argentina.citiservice@citi.com
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