Argentine money laundering bill passes Senate

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By Hugh Bronstein for Reuters

(Reuters) - Argentina's Senate on Wednesday passed a bill called for by President Cristina Fernandez to toughen financial controls and meet global standards on fighting money-laundering.

Fifty-seven legislators voted in favor of the measure, with four voting against and one abstention, as Argentina hopes to avoid being put on a "gray list" of tax havens that have not fully implemented global transparency and data-sharing standards.

Ending up the gray list would raise borrowing costs and be a black eye for Fernandez as she weighs a re-election bid in October.

The bill, which now must be signed by...Read Full Article

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