U.S. and Argentine Financial Intelligence Units Restore Cooperation to Fight Terrorism and Organized Crime

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Contact: Steve Hudak (703) 905-3770
Immediate Release

WASHINGTON, DC – Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network (FinCEN) today signed a memorandum of understanding (MOU) with her Argentine counterpart, Mr. Mariano Federici, President of the Unidad de Informacion Financiera (UIF) of the Republic of Argentina. Ms. Calvery and Mr. Federici are leaders of their countries’ Financial Intelligence Units (FIUs), which are charged with collecting, analyzing, and sharing reports and information gained from their countries’ financial institutions to combat money laundering, terrorist finance, and organized crime. Information sharing between FinCEN and the UIF was suspended last year after an unauthorized disclosure of information received by the UIF from FinCEN. The MOU is a first step in reestablishing information sharing between the two FIUs.

“Our governments agree on the importance of sharing what we each may know about the finances of criminals and terrorists,” said Director Calvery. “We are moving to a new relationship built upon cooperation and coordination in the global fight against terrorism and organized crime. As we rebuild trust and encourage mutually beneficial changes, I am confident that our FIUs will soon emerge as solid partners. We must depend on each other if we are to meet the many challenges before us.”

The United States and Argentina have a shared interest in countering illicit financial activity, terrorism, and organized crime which present a serious threat to our respective people, businesses, and communities. The financial intelligence that FIUs collect and share is critical to these efforts. In addition to helping bring criminals to justice, financial intelligence provides key lead information that law enforcement officials proactively employ to prevent terrorist and other criminal activities from occurring in the first place. In signing this MOU, FinCEN and the UIF have committed to strengthening their information sharing capabilities to increase the effectiveness of this important work.

Also significant is the role such efforts play in enhancing economic growth. Sharing financial intelligence to protect the financial system from illicit actors also fosters the kind of financial integrity that promotes transparency, financial inclusion, and economic development.

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