Regulatory Alerts2025-08-07 | A 8298Circular SINAP 1-234 Retail Payment Systems - Fraud Mitigation Measures
The Central Bank of the Argentine Republic issued Circular SINAP 1-234 to mandate financial institutions and payment service providers implementing electronic funds transfer schemes to mitigate fraud through enhanced risk assessment procedures. The regulation requires the low-value electronic clearing chamber to maintain and provide updated CBU/CVU totalizer records via daily files and APIs, enabling obligated entities to identify customers with unjustified account concentrations. Furthermore, it establishes strict timelines for data availability, continuous staff training, periodic policy reviews, and internal audit validations to ensure objective, risk-based customer onboarding and operational discontinuation decisions.
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