BCRA and CNV tighten transfer controls

The Central Bank of Argentina published Communication A 8473 on September 10, 2026, creating a fraud-risk assessment scheme for people who make electronic transfers. The rule requires banks and payment service providers to tighten controls, while the CNV moved ahead with a resolution that makes transfers the only way to move funds with clients in the capital markets.

What did the BCRA order in Communication A 8473?

The BCRA set up a fraud-risk assessment framework linked to people who make electronic transfers and ordered the institutions covered by the rule to strengthen their controls. According to Urgente24, the risk score cannot be the only basis for decisions, so banks and PSPCPs must still apply due diligence, transaction monitoring, enhanced analysis, and their own mitigation measures.

The operational scope includes administrators of immediate transfer schemes, financial institutions, and payment service providers. Urgente24 reported that administrators have 120 calendar days from publication to implement the provisions.

El Destape added that financial institutions would have 60 days and PSPs or PSPCPs 90 days to implement different parts of the regime, counted from when they receive the technical documentation required by the rule from the administrators. The same report said the text published in the Official Gazette refers to a technical annex that was not included in the notice, so the full detail of the obligations was not fully visible in the official version released.

What changed for the capital markets?

The CNV published General Resolution 1166/26 and ruled that transfers will be the only permitted method for receiving and delivering funds to and from clients in the capital markets. The measure is meant to improve traceability and control, and it eliminates the use of physical or electronic checks in that flow.

The CNV's official statement on Argentina.gob.ar said the rule is designed to ensure immediate availability of funds, avoid rejections tied to the use of checks, and strengthen control and prevention mechanisms against possible harmful conduct. Memo also said incoming funds must be transferred exclusively from checking accounts held in the client's name or jointly held by the client, or from a CVU linked to the client's CUIT, as long as identification and traceability are ensured for funds coming from PSPs to authorized bank accounts.

The same Memo report said outgoing funds to clients must also go to checking accounts or to the client's CVU, under equivalent identification and traceability requirements. Infobae noted that the new rule affects small and mid-sized companies that used electronic checks in their securities accounts held with broker-dealers to reduce the financial transaction tax, a channel that was halted by the CNV's decision.

La Nación, for its part, said the resolution changes Title XI of the CNV rules and fits into a broader push for greater bank traceability and fewer instruments subject to rejection, with effects on the use of checks in agricultural transactions and other productive sectors.