Argentina Explores Money Laundering Education

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In Santa Fe, Argentina, between October 12 and 13, a seminar will be available to interested parties on the topics of money laundering and illegal gaming prevention. The informative session has been organized by ALEA, the Association of Argentine State Lotteries. Though ALEA is a lottery-focused group, the topics will go beyond lotto playing. The seminar is just one of many interesting events put on by ALEA over the coming months.

An antique world map displays various currencies and push pins all over it.

Money laundering is said to cost between 2% to 5% of the world’s GDP; Argentina’s province of Santa Fe seeks to combat it. Christine Roy/Unsplash

ALEA’s robust program of events

Those interested in partaking in the seminar on money laundering and illegal gambling prevention will do so at Los Silos Hotel In Santa Fe, the provincial capital. The session will be hosted by both ALEA and Caja de Asistencia Social, and will last for two days. Though the focus of the session will be how these issues affect Córdoba and Santa Fe, Argentina, they may be of interest to a wider audience for whom illegal gaming prevention is a pertinent issue.

The seminar will cover not only the current state of money laundering and illegal gaming in these areas, but also will delve into how they are predicted to change over coming years. In particular, there is a chance of more of these harmful illegal activities taking place online as criminals take advantage of new technologies.

Participants will learn about both “asset laundering” and “terrorist financing.” In the world of money laundering, the funding of terrorist activity is a concern that goes hand in hand and the risk of both are usually assessed simultaneously for a given region or country. Both in person and online illegal gaming issues will be addressed.

During the seminar, various authorities from locations throughout Argentina will meet in Santa Fe. Guests include members of the Financial Information Unit (FIU), who work directly with risk assessment for these threats in Argentina. It is important to note that participation will not be gratis: Members of ALEA have one free registration each but additional participation will cost $9,000 AR. People may sign on until October 6.

It is easy to sign up. A form is available on ALEA’s website alongside payment and accommodation details. Those interested in this topic may also want to participate in other events hosted by ALEA in October and November. More information is being released about these as time goes on, but there is an overview of some events available now.

In early October, the Córdoba Lottery will host other lottery managers to share experiences in fighting illegal gambling within its lotto jurisdiction. Participants can expect a step-by-step breakdown of issues the lottery has faced and solutions it has found for each problem.

Towards the end of October, organizations may sign up for a two-day workshop on responsible gaming and social responsibility. Responsible gaming and how gaming institutions deal with it is a hot-button issue and often built into gaming laws. Participants will meet with the aim of further developing their approaches to the topic and coming away with practical steps to implement in their own companies.

Finally, between November 8 and 10, ALEA will work with the Provincial Institute of Games and Casinos of Mendoza on a wider-reaching conference. The 66th assembly of its kind, it will specifically examine online gambling management systems in Argentina. The Provincial Institute of Lottery and Casinos (IPLyC) of Misiones will also touch on online gaming systems and the Guazubet platform later in November.

Money laundering a low risk in Argentina

Though money laundering is of interest to Argentinian gaming authorities and companies in the industry, Argentina’s overall risk level for this activity and terrorist financing is currently at an all time low. The measurement of 5.03 is considered an extremely low risk, especially compared to the risk level in the country in previous years.

This calculation is measured based on Argentinian law, financial regulations, and various quantitative data. It follows an overall trend in South America with this risk level decreasing in recent years. This might be due to changes in laws which have sought to further regulate gaming across Latin America. While not entirely eliminating illegal gambling, governments with regulated gaming systems like Argentina’s at least have more power to fight against it.

Money laundering is still a concern across the globe. By 2023, anti-money laundering software is a market projected to increase to a value of $1.77 billion USD. That is more than a 100% increase from 2016 to 2017. It’s estimated that money laundering costs 2% to 5% of the world GDP, the concrete consequences of which are difficult to fathom.

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